Politico: The debt deal limits Pentagon spending. Lawmakers are already figuring out ways around it.
Both Democrats and Republicans say a supplemental for Ukraine could be a way to pad defense spending.
The ink is barely dry on a debt limit deal that constrains Pentagon spending for the next two years, but lawmakers in both parties are already looking for ways to boost funding levels in spite of those caps.
The pact passed the House late Wednesday with the support of most Republican defense hawks, even though the deal caps national defense spending at the administration’s $886 billion proposal for fiscal 2024. It’s still unclear as of Thursday afternoon how the GOP will break in the Senate.
That hasn’t stopped Democrats and Republicans from looking for creative ways to increase the Pentagon budget.
Read more ....
Update #1: Senators eye Ukraine aid bills as avenue to increase DOD budget (Roll Call)
Update #2: Senators seek to bypass defense caps in debt ceiling bill (Defense News)
WNU Editor: The US Senate has passed the debt ceiling deal .... The Senate just passed the debt ceiling bill. Here’s what happens next (CNN).
As to what is my take on this "debt deal".
1) $4 trillion in more debt.
2) The debt ceiling no longer has a real ceiling.
3) The US budget will now be normalized from $4t to $6t, with spending mostly likely to be near the $6t mark (for the next two years).
4) This new debt will be offering 5.25% interest of which half will be used for paying interest on existing debt.
5) This is not temporary. This is their plan.
6) The Pentagon budget will continue to grow.
3 comments:
80 countries joining BRICS and will start the ground work on a gold backed currency later this month. The US is going bust and the only way out is to go to war. Big big changes will be happening over the next few years. GLTA, except Faz
Pedal to the floor, cliff edge in sight.
nothing will ever limit military spending as approved by congress, over and over.
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