Free Republic

(CNSNews.com) - Foreign ownership of U.S. government debt declined in July for the second straight month, according to Treasury Department data released Friday. Overall, foreign holdings of U.S. debt dropped from an all-time high of $4.5115 trillion in May to 4.4956 trillion in June and then to $4.478 trillion in July.In June and July, President Barack Obama and congressional leaders were negotiating legislation to increase the legal limit on the U.S. government’s debt. In August, Obama signed legislation that will permit the Treasury to borrow up to another $2.4 trillion.Among major foreign creditors of the U.S. government, entities in Russia led the...