Editor's Note: The American’s for Tax Reform Foundation’s Cost of Government Day Report is a mindbender. If this isn't a steady march towards national, corporate socialism then what?

The Cost of Government Day (COGD), the day of the calendar year on which the average American worker has earned enough gross income to pay off his or her share of the spending and regulatory burdens imposed by government on the federal, state, and local levels, is now August 19, the latest date ever recorded.

In simple language, it means that the average American must work 230 days, or 63% of the year, to pay for the full cost of government.

Treasury bills are securities that mature in one year or less that are sold by the U.S. Treasury Department to fund the nation’s debt.

Mainland Chinese holdings of U.S. Treasury bills are reported in column 9 of the Treasury report linked here.

If you want to find out what's happening in the world of social entrepreneurs, you can't do better than ask Bill Drayton: especially since he's the person who first coined the term "social entrepreneur" and is an acknowledged pioneer in the field.

Mr. Drayton is well-known as the founder and CEO of Ashoka: Innovators for the Public, which now has about 3,000 social entrepreneurs in the field all over the world. This year marks 30 years since the first Ashoka fellows began their work. He has won a MacArthur Foundation "genius" fellowship. In 2006, Harvard University named him one of its 100 "Most Influential Alumni." In 2010, he received an Honorary Doctorate from New York University and the Essl Social Prize, for his work creating and building the field of social entrepreneurship.

Deutsche Bank AG (DBK) was sued by the Los Angeles city attorney for allegedly failing to maintain foreclosed properties and illegally evicting low-income tenants.

The bank has become "one of the major slumlords in the city" by buying more than 2,200 properties through foreclosure and letting vacant buildings fall into disrepair, Los Angeles City Attorney Carmen Trutanich said today at a press conference. The bank also unlawfully evicted tenants in order to sell buildings, he said.