Is the US Deficit Being Bankrolled by China?

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Warnings about increasing the national debt were futile last night, as Congress agreed by overwhelming margins to extend the President's tax cuts. Even reluctant Democrats went along when Republicans said that a "no" vote meant a middle-class tax increase in an election year. Who pays for America's increasing debt? More and more, that turns out to be China, which has become one of America's biggest bankers. In the face of such debt, Warren Olney speaks with experts on economics and Asia about China's leverage on US policy, and what it means for America's clout on trade, human rights, and security in the Far East. Making News: John Kerry's Plan against Terrorism Senator Kerry said again today that the Iraq invasion was a diversion from the battle against al Qaeda, creating a haven for terrorists that was not there before. Detailing his own strategy in the war on terror, Kerry promised that he could bring allies on board. Richard Wolffe, who's traveling with the Kerry campaign for Newsweek magazine, says the presidential hopeful has adopted a much more aggressive tone in fighting terrorism and getting out of Iraq. Reporter's Notebook: Crisis in Haiti Once Again As Tropical Storm Jeanne heads for the Florida coast, it---s left Haiti in ruins. There are reports of unclaimed corpses being buried in mass graves and survivors attacking aid workers, even neighbors bringing them food. Freelance journalist Kathie Klarreich reports on Haiti for Time magazine. From Miami and frustrated in her efforts to return to Haiti in Jeanne's aftermath, Klarreich has more on Jeanne's terrible toll.
Warnings about increasing the national debt were futile last night, as Congress agreed by overwhelming margins to extend the President's tax cuts. Even reluctant Democrats went along when Republicans said that a "no" vote meant a middle-class tax increase in an election year. Who pays for America's increasing debt? More and more, that turns out to be China, which has become one of America's biggest bankers. In the face of such debt, Warren Olney speaks with experts on economics and Asia about China's leverage on US policy, and what it means for America's clout on trade, human rights, and security in the Far East.
  • Making News: John Kerry's Plan against Terrorism
    Senator Kerry said again today that the Iraq invasion was a diversion from the battle against al Qaeda, creating a haven for terrorists that was not there before. Detailing his own strategy in the war on terror, Kerry promised that he could bring allies on board. Richard Wolffe, who's traveling with the Kerry campaign for Newsweek magazine, says the presidential hopeful has adopted a much more aggressive tone in fighting terrorism and getting out of Iraq.
  • Reporter's Notebook: Crisis in Haiti Once Again
    As Tropical Storm Jeanne heads for the Florida coast, it---s left Haiti in ruins. There are reports of unclaimed corpses being buried in mass graves and survivors attacking aid workers, even neighbors bringing them food. Freelance journalist Kathie Klarreich reports on Haiti for Time magazine. From Miami and frustrated in her efforts to return to Haiti in Jeanne's aftermath, Klarreich has more on Jeanne's terrible toll.

John Kerry's plan on terrorism

Relief for Working Families Tax Act of 2003

Congressional Budget Office's Budget and Economic Outlook Update

Weisman's article on Congressional extension of tax cut

National Hurricane Center

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Warren Olney