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Govt to Borrow More Money, Buy More Bombs

Posted by feww on October 17, 2013

Congress votes to end shutdown, raise debt ceiling

U.S. Congress has approved a bill to reopen the government and raise the debt ceiling until February 7, 2013, and Mr Obama has promised to sign the legislation immediately…

The Senate voted 81 to 18 to send the 35-page bill to the House of Representatives, where it was approved 285-144 about two hours later. All 198 Democrats present in the House and 87 Republicans voted for the bill; 144 Republicans voted against.

$1 Trillion On Defense

U.S. will have spent an astonishing $931 billion on DEFENSE in 2013, and that’s a conservative figure, according to The American Conservative .

“And this will turn out to be a conservative figure. We won’t spend less than that, but among other things, it doesn’t include the interest we’re paying on money we borrowed to fund past military operations; nor does it include portions of the National Aeronautics and Space Administration that are dedicated to national security. And we don’t know if this number captures the entire intelligence budget or not, because parts of intelligence funding are classified.”

us debt clock
U.S. Debt clock screen dump at 04:00UTC on October 17, 2013. Source: http://www.usdebtclock.org/

The following are Key Points from National Priorities Military Spending Fact Sheet

  • Total Security Spending: The U.S. has spent more than $8 trillion on national security since Sept. 11, 2001. That includes funding for the Department of Defense, the U.S. nuclear weapon stockpile, wars in Iraq and Afghanistan, and homeland security.
  • War Costs: President Obama proposes spending $79.4 billion in fiscal 2014 to fund war operations in Afghanistan and Iraq; by way of comparison, the president’s 2014 budget allocates a total of $65 billion for all federal education programs. Through fiscal 2013, an inflation-adjusted $1.65 trillion has been spent on the two wars.
  • U.S. and the World: In 2012, the U.S. accounted for 39 percent [the figure was closer to 43 percent according to FIRE-EARTH estimates] of global military spending, while Iran, North Korea and Syria accounted for less than 1 percent, according to SIPRI, a Swedish research institute that tracks global military spending.
  • What’s Happening Now: Committees in both the House and Senate voted to increase military funding in fiscal 2014, a move that could necessitate additional cuts to domestic programs in order to keep overall spending within mandated spending caps. The House proposed offsetting a 5 percent increase in military spending with an 18.6 percent cut to Labor, Health and Human Services, and Education.

Here’s U.S. Budget Breakdown for 2014, according to War Resisters League

Military Spending in the 2014 Budget

  • Total Outlays (Federal Funds) $2,890 BILLION
  • Military: 47% and $1,334 Billion

US-Federal-Budget-FY-2014
Source: War Resisters League

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