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mick silver
20th December 2014, 12:34 PM
Obama signs nearly $578 billion defense bill for fiscal 2015Fri Dec 19, 2014 6:34pm ESThttp://mobile.reuters.com/do/getNewsImages?n=11&u=USKBN0JX2IM20141219
just how much longer can this go on before were done . piss poor broke


WASHINGTON (Reuters) - President Barack Obama signed an annual defense policy bill on Friday that authorizes U.S. training for Iraqi and Syrian forces fighting Islamic State rebels and sets overall defense spending at nearly $578 billion, including about $64 billion for wars abroad.
The legislation, approved by Congress earlier this month, sets defense policy and authorizes spending levels for the 2015 fiscal year, which began on Oct. 1, but does not actually appropriate funding.
The bill approves a Pentagon base budget of $496 billion, in line with Obama's request, plus nearly $64 billion for conflicts abroad including the war in Afghanistan. It also authorizes $17.9 billion for Energy Department nuclear weapons work.
The measure formally endorses the Pentagon's plan to vet, train and equip a moderate Syrian opposition military force to fight Islamic State rebels, defend the Syrian people and promote conditions for a negotiated end to Syria's civil war.
The U.S. military program to train and assist Iraqi and Kurdish forces fighting Islamic State militants also was authorized.
The bill takes new steps to control personnel costs, which consume about half the Pentagon budget, essentially approving a year's worth of proposed long-term reforms but delaying further action pending a report in February from a congressionally appointed commission on military compensation.
In announcing that he had signed the bill, Obama called on Congress to join him in closing the U.S. military prison at Guantanamo, Cuba, where terrorism suspects are held. Republicans have resisted Obama's attempts to close the facility.
"The Guantanamo detention facility's continued operation undermines our national security. We must close it," he said.
(Reporting by Steve Holland and David Alexander)

woodman
20th December 2014, 03:28 PM
It's all an enormous joke. Our borders are wide open. Just what is the defense budget supposed to defend?

Corporate interests.

singular_me
21st December 2014, 05:39 AM
well I guess, wall street stock brokers must be cheering the news, more billions to use their slush, flush... pump and dump operations

all good for the war build-up too

old steel
21st December 2014, 11:37 AM
30 billion dollars would do away with world hunger.

I'm at a loss for words....

keehah
12th December 2021, 09:54 AM
cbsnews.com: House approves $768 billion defense funding bill (https://www.cbsnews.com/news/defense-bill-2021-house-vote/)
DECEMBER 8, 2021

https://www.macrotrends.net/countries/USA/united-states/military-spending-defense-budget

U.S. military spending/defense budget for 2019 was $731.75B, a 7.22% increase from 2018.
U.S. military spending/defense budget for 2018 was $682.49B, a 5.53% increase from 2017.
U.S. military spending/defense budget for 2017 was $646.75B, a 1.08% increase from 2016.
U.S. military spending/defense budget for 2016 was $639.86B, a 0.95% increase from 2015.[???]

How is all that defense spending working out?

yahoo.com: Forecast: 1.8 million illegal migrants under Biden, ‘worst ever year’ (https://news.yahoo.com/forecast-1-8m-illegal-migrants-110700666.html)

Princeton Policy Advisors President Steven Kopits, who has long argued for a market-based visa program to control immigration, said that 2021 is likely to be the worst ever year of illegal immigration.

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NYT: Senate Clears Last Major Hurdle to Raising Debt Ceiling (https://www.nytimes.com/2021/12/09/us/politics/debt-ceiling-congress.html)

Dec. 9, 2021
WASHINGTON — The Senate on Thursday cleared away the last major hurdle to raising the debt ceiling, approving legislation that would all but guarantee that Congress will be able to move quickly in the coming days to steer the government away from a first-ever federal default.

The breakthrough came after 14 Republicans joined every Democrat to effectively end their party’s monthslong blockade of debt-limit legislation, allowing the bill to advance in the 50-50 Senate. The legislation later passed by a similar margin, 59 to 35, with 10 Republicans joining Democrats for final passage.

President Biden is expected to quickly sign the bill into law. It would establish a one-time fast-track process for Congress to increase the statutory borrowing limit by a set amount that is still to be determined.

That would pave the way for a separate vote to raise the limit by as much as $2.5 trillion, expected early next week....
“No brinksmanship, no default on the debt, no risk of another recession — responsible governing won the day,” said Senator Chuck Schumer, the New York Democrat who is the majority leader, after the vote. Earlier in the day, he thanked Mr. McConnell for the “fruitful, candid, productive” discussions that led to the agreement...

While Democrats have not said how much they will increase the borrowing cap, it is expected that they will try to delay another fiscal standoff until after the midterm elections next year. One Treasury estimate suggested they would need to raise it by as much as $2.5 trillion to cover that period, according to a person familiar with the preliminary accounting who disclosed it on the condition of anonymity.

The legislative contortions were necessary because of Republicans’ intransigence on the debt limit. Given that Democrats are using the fast-track budget reconciliation process to muscle through Mr. Biden’s $2.2 trillion climate, tax and social spending bill over their opposition, Republicans had demanded that Democrats use the same maneuver to address the debt limit.

Democrats objected, arguing that both parties were responsible for raising the borrowing cap to accommodate spending that had been approved by and incurred under both Republican and Democratic administrations.

https://ycharts.com/indicators/us_per_capita_public_debt

US [Federal] Public Debt Per Capita is at a current level of 85.70K, down from 85.72K last month and up from 81.48K one year ago. This is a change of -0.03% from last month and 5.17% from one year ago...

Average Growth Rate 7.25%

More and more and more...

cnbc.com: The ballooning money supply may be the key to unlocking inflation in the U.S. (https://www.cnbc.com/2020/08/05/the-ballooning-money-supply-may-be-the-key-to-unlocking-inflation-in-the-us.html#:~:text=Normally%20characterized%20by%20sl ow%2C%20steady%20growth%2C%20the%20U.S.,money%20su pply%20may%20do%20little%20to%20fan%20inflation.)

AUG 5 2020
With the Federal Reserve and Congress pushing stimulus efforts to new heights, some investors are keeping a close eye on a surge in the U.S. money supply for signs of inflation’s long-awaited return...

“It’s fair to say we have never observed money supply growth as high as it is today,” Morgan Stanley chief U.S. equity strategist Mike Wilson wrote this week.

The “Fed may not be in control of Money Supply growth which means they won’t have control of inflation either, if it gets going,” he added...

Normally characterized by slow, steady growth, the M2 supply has grown 20% from $15.33 trillion at the end of 2019 to $18.3 trillion at the end of July.