More Than Requested
Politico reports House Passes $839B Defense Bill, Swatting Down Biden’s Military Plans.
- The $839 billion National Defense Authorization Act, approved in a 329-101 vote, is $37 billion more than the administration sought in military spending.
- On top of the budget, the bill also rebukes several of Biden’s national security plans. Members maintained a nuclear cruise missile the administration planned to scrap, hampered F-16 sales to Turkey and limited the number of aircraft and ships the Pentagon can retire.
- The bill includes billions for more aircraft and ships than the Pentagon sought, following a bipartisan vote by the House Armed Services Committee to raise the bill’s price tag by $37 billion.
- Funding continues for the development of a sea-launched nuclear cruise missile, a program the White House sought to kill.
- The bill authorizes 13 new warships, adding five ships the Navy didn’t request — an extra Arleigh Burke-class destroyer, another Constellation-class frigate, another fleet oiler and two expeditionary medical ships.
- The bill requires the Navy to keep five of the nine littoral combat ships it sought to retire.
- The bill also authorizes 64 F-35 fighter jets, three more than the Pentagon sought across the military services.
- Lawmakers approved $354 million to procure three more F-35C carrier-based jets for the Navy.
Bipartisan Action
Excessive military budgets are always bipartisan. 180 Democrats and 149 Republicans joined forces to pass the legislation.
“It is the definition of a bipartisan bill,” said Rep. Mike Rogers of Alabama, the top Republican on the Armed Services Committee.
Hooray, More Inflation
Doesn’t anyone in DC who voted for this monstrosity understand inflation?
Are they that stupid or do they just not give a damn.
I suspect the most useful item in the bill, a repeal of the 2002 Iraq War authorization, will be stripped out of the final bill in the Senate.
Stripping that provision would prevent a president from relying on the 2002 authorization to conduct unrelated military actions in the regions.
If stripped, only the waste will remain. Both parties support more war-mongering. The Republicans are at least up front about it.
Hooray! Senator Manchin Finally Kills Biden’s Build Back Better Initiative
Were it not for Senator Joe Manchin, the US would be in an even bigger inflationary spiral.
For discussion, please see Hooray! Senator Manchin Finally Kills Biden’s Build Back Better Initiative
Also note, Consumer Price Index Jumps Another 1.3 Percent, Much More Than Than Expected
This post originated at MishTalk.Com.
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Mish
funds being borrowed do not increase our productive capacity, nor increase the
efficiency of the work force. Rather the funds are used largely to finance
transfer payments to non-productive recipients and to finance “dead-weight”
military hardware. Since the goods and serves being finance by these monstrous deficits
are not offered in the marketplace, additional and un-necessary inflationary
and interest rate pressures are generated in the economy. And the magnitude of
these deficits guarantees that a significant proportion of these deficits will
need to be monetized. They are war economy budgets and therefore, require the
controls dictated by a war economy in order to be properly funded.
The U.S. has had a net liquidity
deficit in every year since 1950 (with the exception of 1957), Up to 1976 (when
the private sector contributed its first trade deficit). These deficits were
entirely the consequence of excessive U.S. government unilateral transfers to
foreigners (re: foreign policy – solely our far-flung military bases and personnel). During all this time the private sector was
running a surplus in all accounts: merchandise, services and financial. The
Vietnam Ten-year War administered the coup d’etat to our gold bullion
standard. By 1968, in an effort to keep
the dollar at the $35 par, we had exhausted nearly two thirds of our monetary
gold stocks, or approximately 700 million ounces to about 260 million ounces.
accounts like the plague years of 2020/21. but doing it for the 1% at
military industry is nasty”
LOL. Wait for Manchin to vote on this one.