Fair Tax Act Of 2023

This post is for all who have no idea what the ‘Act’ is all about….those that spend all their time on TicTac or Twatter….or are more concerned with what new song some skinny blonde porks out or what celeb was wearing a sheer dress….the Act will effect all of us mere mortals and you should be aware before you start some dialog with little knowledge.

First of all….what is the Fair Tax Act of 2023?

This bill imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income taxes, payroll taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2025, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property; for property or services purchased for business, export, or investment purposes; and for state government functions.

Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines.

The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury.

Tax revenues are to be allocated among (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund.

No funding is authorized for the operations of the Internal Revenue Service after FY2027.

Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this bill.

https://www.congress.gov/bill/118th-congress/house-bill/25

Now a break down how this act would work and effect you…..

Imagine this: Instead of paying federal taxes to the IRS, you pay them to your local cafe every time you buy a latte or to your supermarket when you make a grocery run — or to countless other businesses when you make purchases.

That’s a future proponents of the Fair Tax Act would like to see. The idea of implementing a national sales tax in lieu of our current federal tax apparatus is once again gaining steam after Rep. Buddy Carter (R. Ga.) introduced the bill to the House of Representatives earlier this month, and House Speaker Kevin McCarthy has agreed to bring the bill to a vote.

“This bill will eliminate the need for the [IRS] entirely by simplifying the tax code with provisions that work for the American people and encourage growth and innovation,” Carter said in an announcement.

The Fair Tax Act is unlikely to become law due to opposition from Democrats, and President Joe Biden has already said that he will veto the bill if it does manage to pass both the House and the Senate.

Still, the proposal has many wondering what a national sales tax or “fair tax” would look like.

https://money.com/fair-tax-act-national-sales-tax/

I love it when we are told that it is for us that this type of screwing is pointed to….but in reality it is aimed for the rich to pay less taxes than they pay now (and some pay no tax at all)

DO NOT BUY the hype…none of this is for you.

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“lego ergo scribo”

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Debt Ceiling–Right On Cue

A new Congress with Repubs in charge in the House and right on cue these people are fixated on the debt ceiling and will not vote to up it unless some of their demands are met.

We will hear from the lard ass, big mouths in the House go on and on about the debt and will spread crap on what it means to us mere peasants.

To help the average person understand this I found an interesting bit that could explain this complex issue…..

Republicans in Congress are threatening once again to force the US to default because they lack the votes to enact their preferred fiscal vision.

Yes, it’s debt ceiling season once again. For those not following along at home, US law imposes an arbitrary limit on the amount of money the government is allowed to borrow. Historically, this was intended to make borrowing easier. Today, it is a tool for brinksmanship, with Republicans threatening to block paying the bills they already voted to incur unless GOPdemands for unspecific spending cuts are met.

The last time a real debt ceiling face-off happened in 2011, the US had its sovereign debt rating downgraded and incurred more than a billion dollars in economic losses. So let’s set aside the hypocrisy and political posturing and ask a simpler question: Is there a debt crisis that would justify holding the economy hostage?

And the answer is no. Markets are not worried about the US paying its debts, and there are no bond vigilantes appearing out of the woodwork.

Absent the specter of the European debt crisis or a Republican party united on fiscal issues, the politics of debt reduction sit differently. Some Republican politicians, like Trump and Senate leader Mitch McConnell, are already warning that the cuts for popular but expensive programs such as Social Security and Medicare implied by a debt default aren’t going to help the party gain power in the next election. Republican member of Congresthoughts on the debt issues Nancy Mace told NBC over the weekend spending must be cut but couldn’t name a single target for reductions. Instead of cuts, conservative Democratic Senator Joe Manchin is pushing to lift the limit on taxable Social Security wages.

https://qz.com/there-is-no-us-debt-crisis-1850013109

I am sure there is a troll in weeds waiting for his/her opportunity to offer up their spurious thoughts on the debt issue.

One question….how will the debt ceiling effect you?  (I do not want to hear what some politician thinks….I want your belief).

What about the proposal to eliminate the IRS and income tax?

Stay tuned for I shall cover this issue soon.

Be Smart!

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

Is It Price Gouging?

By now we all have been to the grocery store and have been flabbergasted at the high price of eggs….my experience has been a wide range of prices for a dozen from $4.32 to $7.52….

Would there be some form of price gouging going on with these prices….

A US senator has joined farmers in calling for an investigation to crack the problem of soaring egg prices. Government data shows the national average retail price for a dozen eggs reached $4.25 in December, for a 138% increase from the $1.79 average a year earlier, though the average price nears $10 in some parts of the country, per Vice. All this has led to more shouts of price gouging, per the AP. Farm Action, a farmer-led advocacy group, has called for the FTC to investigate Cal-Maine Foods, the largest US egg producer, after it reported a 110% increase in quarterly sales and 600% increase in gross profits, per the Hill. Cal-Maine logged profits of $198.6 million in the second quarter of fiscal 2023, compared to $1.1 million a year earlier.

Cal-Maine says its eggs cost $2.71 a dozen on average in the most recent quarter, which is almost double the price of a year ago but well shy of the prices consumers are paying. In explaining the prices, set in negotiations with distributors and stores, the company cites increased demand, higher costs, and fewer chickens as a result of the avian flu outbreak. The slaughter of 43 million egg-laying chickens within the last year reduced the supply by 5% to 6%, per the AP. However, chickens have been laying more eggs on average, per Vice. Though some experts disagree, Farm Action’s Joe Van Wye says supply concerns accompanied by a 22% increase in production and input costs since 2021 fails to explain the price spike.

There “appears to be a collusive scheme among industry leaders to turn inflationary conditions and an avian flu outbreak into an opportunity to extract egregious profits,” said Farm Action, which has long warned about major firms driving up consumer prices, per the Hill. Sen. Jack Reed of the Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies added to the pile on Tuesday, asking the FTC to investigate “the industry’s role in perpetuating high prices and hold those responsible accountable for their actions.” The Rhode Island Democrat noted “small producers, which have faced many of the same market challenges as the biggest producers, have managed to keep prices under control.”

I believe it is price gouging and the big retailers are the worse.

Are there any thoughts on this turn in our food supply?

I Read, I Write, You Know

“lego ergo scribo”

Poverty–Oh SNAP!

There are a few programs that try to help the poor with their struggle with hunger….one of those programs is the SNAP.

SNAP provides nutrition benefits to supplement the food budget of needy families so they can purchase healthy food and move towards self-sufficiency.

Now that the Repubs are in control of most state houses there is a movement to end this program….

Republicans in the Iowa House introduced legislation this month that would impose a slew of fresh restrictions on the kinds of food people can purchase using SNAP benefits, sparking outrage among local groups who say the measure would exacerbate hunger in the GOP-dominated state.

The Des Moines Area Religious Council (DMARC), an interfaith group that operates the largest food pantry network in Iowa, noted in a statement earlier this week that if the bill passes, “Iowans could no longer use their SNAP benefits to purchase meat, nuts, and seeds; flour, butter, cooking oil, soup, canned fruits, and vegetables; frozen prepared foods, snack foods, herbs, spices—not even salt or pepper.”

“This is a punitive policy that will do nothing to improve the health and nutrition of Iowans, but rather be a detriment,” the group said.

The Iowa Hunger Coalition (IHC) also condemned the bill, voicing opposition to its proposed food restrictions as well as new asset limits that would make it more difficult for families to qualify for SNAP, a program funded by the federal government and administered by states.

According to Feeding America, the largest hunger-relief organization in the U.S., roughly 229,500 people—including 80,160 children—are facing food insecurity in Iowa.

The details of the new legislation—which is sponsored by 39 Iowa House Republicans, including Speaker Pat Grassley—were met with national anger.

“This is so profoundly cruel and petty,” said Leah Greenberg, co-executive director of the progressive advocacy group Indivisible.

Sarah Bowen, a sociologist who studies food and inequality, noted in a tweet on Thursday that “Republicans have tried to destroy SNAP for years,” animated by the lie that “SNAP recipients are all stocking up on lobster and steak.”

“This is the most ridiculous proposal I’ve seen though,” Bowen added. “No chicken or ground beef. No chili beans. No American cheese?!”

SNAP recipients are already limited in what they can purchase at the grocery store using their benefits, but Iowa Republicans are seeking to dramatically expand those restrictions.

As Todd Dorman of the Iowa Gazetteexplained in a column on Thursday, the legislation “would require the Department of Health and Human Services to seek a federal waiver allowing Iowa to scrap an already restrictive federal list of approved foods and replace it with a list of food available to recipients of aid to Women, Infants, and Children, or WIC.”

“The bill would also, for the first time, create an asset test, limiting household assets to $2,750 or $4,250 if one member of the household is over 60. It exempts just one vehicle, potentially making households with two cars ineligible,” Dorman wrote. “Beyond all of that draconian wisdom, the bill would force recipients to jump through far more regulatory hoops to become eligible and stay on SNAP, wrapping recipients tightly in red tape and likely costing the state millions more to administer the program.”

Only two groups support the bill,” Dorman added. “One is the Florida-based Opportunity Solutions Project, which sends its minions across the country to cut holes in the social safety net and oppose policies such as Medicaid expansion. The group is part of a web of conservative think tanks and bill mills bankrolled by rich donors who think if you just make poor people hungry and sick enough, they’ll utilize their bootstraps.”

(commondreams.org.

Read on….https://www.businessinsider.com/iowa-republicans-bill-ban-snap-recipients-meat-sliced-cheese-2023-1

How long will it be before this kind of cruelty expands into other red controlled Houses?

And yet they get votes from the very people they are screwing….where’s the logic in that?

I Read, I Write, You Know

“lego ergo scribo”

Today Is The Day!

Hold your breathe for today is going to be interesting….or even comical….either way the theater will be massive…..

Today’s a milestone day for the Treasury Department, though it’s one it had hoped wouldn’t arrive. Thursday marks when the United States is expected to hit its $31.4 trillion debt cap, a borrowing limit set by Congress that means Treasury will now have to get creative with other ways to pay the nation’s bills. Per the New York Times, the development is expected to set off a contentious debt-ceiling fight between Democrats, who want to lift the cap, and Republicans, who say no way unless President Biden OKs significant spending cuts. “At a moment of heightened partisanship and divided government, it is … a warning of the entrenched partisan battles that are set to dominate Washington in the months to come, and that could end in economic shock,” the paper notes. More on what’s ahead:

  • A feud that may ‘cross the Rubicon’: That’s how Axios paints the “fraught and perilous” debate, in which it anticipates neither side will do much negotiating. That’s not good news when the US is perched on the precipice of a recession. The outlet notes it could also be “an avatar of what some have argued is a US democracy that’s become increasingly polarized, ungovernable, incapable of tackling major challenges—and could be on the verge of outright destabilization.”
  • What it means for Americans: CNN notes that “every American could feel the pain” of what’s to come, and USA Today delves further into the ways the debt-ceiling fight could impact our finances, from how it will affect tax refunds and 401(k) accounts to what it means for Social Security, Medicare, and Medicaid.
  • What it means for investors: The New York Times offers its take on where to put your money during such turbulent times. One takeaway: Sticking with stocks and bonds over the long haul will probably serve you well.
  • Looking to the past for precedent: CNN takes a look back at other debt standoffs, including in 1995, when the debt was a mere $4.9 trillion. NPR, meanwhile, talks to two key players during the 2011 debt-ceiling impasse—Jason Furman, an economic adviser to then-President Obama, and Rohit Kumar, an adviser to Mitch McConnell, the Senate’s top Republican that year—to see if there are lessons to be gleaned.
  • But this isn’t 2011: Participants in a roundtable discussion at the Times note that things are very different than they were a decade ago—including “a worrying trend of edging closer and closer to red lines because lawmakers think there’s political benefit and that there won’t actually be consequences.” In other words, it’s become a high-stakes game of chicken that could have far-reaching repercussions.

Let the games begin!

House GOP will inflict as much pain as they can on Americans…..

Thursday, January 19, 2023 as the day the United States is likely to reach its debt limit, although she has also said that she can keep the federal government open through June by resorting to “extraordinary measures.” Yellen has stressed that the sooner Democrats and Republicans in the U.S. House of Republicans can reach some type of agreement on the debt ceiling, the better. But the two major parties appear to be at a stalemate in the House, where Freedom Caucus and Tea Party Republicans are demanding major spending cuts and Democrats are maintaining that vital programs like Social Security, Medicare and Medicaid should not be on the chopping block.

Meanwhile, countless economists are warning that if the U.S. defaults on its debt obligations, the results would be disastrous economically and trigger a painful recession. Liberal economist Paul Krugman, in his New York Times column, has warned that House Republicans are happy to risk a financial calamity in the hope of butchering Social Security and Medicare. And Never Trump conservative Charlie Sykes has argued that House Republicans aren’t being “fiscally conservative” when they play “chicken” with the U.S. economy and risk a default on the United States’ debt obligations — they’re being reckless and irresponsible.

https://www.alternet.org/debt-ceiling-2659280721/

May I suggest that you invest in some Vaseline and just bend over….for the Repubs are coming.

I Read, I Write, You Know

“lego ergo scribo”

Should The Pentagon Be Worried?

I know I have bitched a bunch about the budget that the Pentagon gets every year…..while most programs and departments are seeing their cash flow lessen the Pentagon see an increase and without much trying on their part.

Now that we have a new Speaker he has promised to take some of their money back to help balance the budget.

After days of negotiations, Rep. Kevin McCarthy is considering cutting the Pentagon budget by $75 billion in order to gain the support of roughly two dozen Republicans who have opposed his bid to become speaker of the House, according to Bloomberg

The cut is reportedly part of an “emerging deal” that would cap government spending at 2022 levels, meaning that it would return defense spending to $782 billion — a sharp drop from this year’s allotment of $857 billion.

According to Andrew Lautz, Director of Federal Policy at National Taxpayers Union and regular RS contributor, this could end up being a bigger cut than people think.

“I would argue the cut would be larger than $75 billion. That’s a $75 billion cut relative to FY 2023 levels. CBO is not out with their new baseline yet but I imagine they’re now projecting a larger than $857 billion national defense topline for FY 2024,” Lautz wrote in an email after this story broke. “Relative to that new expectation, a $782 billion flat FY 2024 topline might be closer to an $100 billion cut.”

If any deal does go through, it would still represent one of the largest single-year reductions in the Pentagon’s budget in history. But that is, of course, a big “if.” It remains unclear whether the agreement will be enough to end days of battles in the House over who will serve as speaker, and it’s far from certain that McCarthy will have the power to ensure that such dramatic cuts are actually enacted. 

The proposal could earn support from some progressives in Congress, including Reps. Barbara Lee (D-Calif.) and Mark Pocan (D-Wis.), who pitched a $100 billion haircut for the Department of Defense earlier this year. But it will no doubt face serious headwinds from more hawkish members of Congress, especially given that this year’s Pentagon budget boost easily passed both the House and Senate, and progressives are unlikely to go along with the idea of across-the-board budget cuts.

McCarthy weighing $75B defense budget cut in quest for speakership (update)

Personally I do not seeing this attempt going anywhere….while I would agree with this cut in funding I think that Congress is in the pockets of the defense industry too far for it to be successful.

I want to see how the Dems handle this proposal….my bet is they will help shoot it down.

I Read, I Write, You Know

“lego ergo scribo”

2023–The Year Ahead

A new year and what do we Americans expect for the year ahead?

New year, new country? Not the way most Americans see it, according to Gallup. Given the partisan politics and economic struggles of 2022, a new poll finds Americans are “largely pessimistic” about the state of the US in the coming year. Some 80% expect economic difficulty, with tax increases and a growing federal deficit; 85% expect international discord; and 90% expect internal political conflict, per the Washington Times. In the web survey of 1,803 members of Gallup’s probability-based panel, 72% said the crime rate would climb, 72% said China’s power would increase, and 64% said the US would decline as a global power.

There was only one of 13 areas in which a majority of Americans expected what the Times calls “a positive outcome,” meaning a decline in Russia’s power, with 62% predicting that would occur in 2023. This is “likely a reflection of that country’s recent setbacks in its war against Ukraine,” Gallup said. Otherwise, “Americans are greeting 2023 with great skepticism and little expectation that the economic struggles that closed out 2022 will abate.” More than 60% of respondents said consumer prices would continue to rise at a “high rate” and the stock market would continue its fall. More than 50% said unemployment would increase and 56% predicted “many strikes by labor unions.”

Republicans were more pessimistic than Democrats, though, with “Democrats more likely than Republicans to offer positive predictions for all of the dimensions,” per Gallup. “This is a typical phenomenon whereby Americas who identify with the sitting president’s party are more positive in general in their outlook for the year ahead.” Some 69% of Democrats predicted full or increasing employment (compared to 23% of Republicans), 56% expected an increase in US power (compared to 11%), 53% expected the stock market to rise (compared to 15%), and 53% predicted a reasonable rise in prices (compared to 16%). The margin of error is plus or minus 3 percentage points.

Do you agree with these ‘predictions’?

If not….what are yours?

Plus the House cannot find a leader after 3 rounds of voting….

After a chaotic first day of the 118th Congress, the House has voted to adjourn for the day, with no speaker of the House elected. GOP frontrunner Kevin McCarthy lost all three rounds of voting Tuesday, with 19 conservative Republicans voting against him the first two rounds and 20 in the third. The swearing-in of new House members was delayed due to the stalemate and family members of lawmakers, including children, fell asleep or left the chamber as the voting dragged on, the Hill reports. This is only the eighth time in history that a House speaker hasn’t been chosen after three rounds of voting, and it’s the first time since 1923 that it has taken more than one ballot, CBS reports. In 1923, there were nine ballots over three days.

Democratic Rep. Hakeem Jeffries got all 212 Democratic votes in the three ballots. “House Dems are united and ready to get to work,” he tweeted. “Complete chaos on the other side of the aisle.” The House will reconvene at noon on Wednesday. Rep. Nancy Pelosi, the most recent speaker of the House, denied that Democrats would cut a deal with Republicans to give McCarthy a majority, the New York Times reports. “That may be a Republican rumor that has no currency among Democrats,” she said. McCarthy vowed to continue seeking the gavel, saying, “We stay in until we win,” the Washington Post reports.

The Republican who switched from McCarthy to Rep. Jim Jordan in the third round was Rep. Byron Donalds. His vote made it 20 for Jordan, who had urged Republicans to vote for McCarthy. “The reality is Rep. Kevin McCarthy doesn’t have the votes,” Donalds tweeted after voting in the third round. “I committed my support to him publicly and for two votes on the House Floor. 218 is the number, and currently, no one is there.” He added: “Our conference needs to recess and huddle and find someone or work out the next step but these continuous votes aren’t working for anyone.”

If not McCarthy then who?

After a historic day in the House of Representatives that ended with the legislative body adjourning without having elected a Speaker, it’s not clear what will happen next—other than the fact that representatives will reconvene at noon Wednesday, PBS reports. A fourth round of voting is expected at that point, USA Today reports, but as the Hill puts it, Kevin McCarthy’s failure to secure the necessary votes after three rounds “will lead to questions about whether Republicans need to move to a different candidate to unite their members.” The site looks at three lawmakers who could possibly take his place: Steve Scalise, the House Majority Leader; Jim Jordan, “widely considered the leading conservative in the House”; and Patrick McHenry, who was Scalise’s deputy whip when Paul Ryan was House Speaker.

While it’s technically possible for a non-House member to become Speaker, the Hill says most find that possibility “extremely unlikely.” The site also reports that McCarthy on Tuesday night floated the idea that he could win the position with less than the 218 votes he currently needs. If lawmakers are absent, or vote simply “present” rather than voting for a particular candidate, the threshold goes down: “Democrats have 212 votes. You get 213 votes, and the others don’t say another name, that’s how you can win,” he said. But it’s not clear how he’d convince at least 11 people who voted against him to vote for him, and then convince the other nine to decline to name a candidate in their votes.

Chaos looks like the agenda for this first year of the 118th Congress.

Pay Attention!

I Read, I Write, You Know

“lego ergo scribo”

Who Profits From Medical Debt?

You hear about the people that are screwed by medical debt….how they have lost everything to pay those massive bills that come in the mail and phone calls.

But that is all too common….every thought about who profits by throwing people into debtors prison (not really but has the same results)…..IST would be remiss if I did not tell the rest of the story…..

Patients at North Carolina-based Atrium Health get what looks like an enticing pitch when they go to the nonprofit hospital system’s website: a payment plan from lender AccessOne. The plans offer “easy ways to make monthly payments” on medical bills, the website says. You don’t need good credit to get a loan. Everyone is approved. Nothing is reported to credit agencies.

In Minnesota, Allina Health encourages its patients to sign up for an account with MedCredit Financial Services to “consolidate your health expenses.” In Southern California, Chino Valley Medical Center, part of the Prime Healthcare chain, touts “promotional financing options with the CareCredit credit card to help you get the care you need, when you need it.”

As Americans are overwhelmed with medical bills, patient financing is now a multibillion-dollar business, with private equity and big banks lined up to cash in when patients and their families can’t pay for care. By one estimate from research firm IBISWorld, profit margins top 29% in the patient financing industry, seven times what is considered a solid hospital margin.

Hospitals and other providers, which historically put their patients in interest-free payment plans, have welcomed the financing, signing contracts with lenders and enrolling patients in financing plans with rosy promises about convenient bills and easy payments.

For patients, the payment plans often mean something more ominous: yet more debt.

Millions of people are paying interest on these plans, on top of what they owe for medical or dental care, an investigation by KHN and NPR shows. Even with lower rates than a traditional credit card, the interest can add hundreds, even thousands of dollars to medical bills and ratchet up financial strains when patients are most vulnerable.

How Banks and Private Equity Cash In When Patients Can’t Pay Their Medical Bills

You now see that your health issues money in the bank for Pharma and the health industry.

While you were rotting your brain on Twatter, Tik Tak and other mindless sites your life is being dismantled….and seemingly with your permission.

Pay Attention!

Be Smart!

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

Pentagon Gets More

Recently SecDef demanded that Congress vote on giving the Pentagon their blood money….

Defense Secretary Lloyd Austin on Monday urged lawmakers to pass a full-year budget for his department as soon as possible, warning that another short-term spending extension could imperil military readiness and family support efforts.

“If the [current budget extension] extends beyond December, we may be forced to reduce accessions or permanent change of station moves, impairing our ability to meet our missions and causing unnecessary disruption to our families and our ability to recruit personnel,” Austin wrote in a letter to House and Senate leaders.

“It is impairing our ability to hire the people we need to accelerate our efforts to eradicate sexual assault and prevent suicide. [It] is delaying needed investments in military infrastructure, including barracks and child care centers.”

Congress approved a short-term budget extension in September after lawmakers failed to agree upon a full-year spending plan by the start of the new fiscal year, Oct. 1. That temporary extension is set to run out on Dec. 16.

https://www.militarytimes.com/news/pentagon-congress/2022/11/28/secdef-tells-congress-to-get-a-military-budget-done-already/

But not to worry the Pentagon gets what it wants and even more…..

The House and Senate have agreed to increase the 2023 National Defense Authorization Act (NDAA) by $45 billion more than President Biden requested, POLITICO reported on Wednesday.

The $45 billion increase was agreed on by the House and Senate Armed Service committees, but other details of the NDAA are still being finalized. The increase the two panels agreed on brings the bill to $847 billion.

Including programs outside of the jurisdiction of House and Senate Armed Service committees, the NDAA will reach $858 billion.

Once finalized, it will be the second year in a row that Congress significantly increases President Biden’s requested budget. Last year, the president asked for $753 billion but was granted an NDAA worth about $778 billion.

The POLITICO report said that the chairs of the Senate and House Armed Services committees have largely agreed on the bill and have handed it off to congressional leadership.

Congress is looking to get the NDAA on the House floor for a vote as early as next week. Once approved by the House it will go to the Senate and then would head to President Biden’s desk for his signature.

Over the past few months, lawmakers have been trying to tack on amendments to the spending bill that would give Taiwan unprecedented military aid, but the contents and amendments included in the NDAA aren’t yet clear.

One plan reported by The Washington Post would give Taiwan $3 billion annually for at least five years. If the Taiwan aid isn’t included in the NDAA, the White House could ask Congress to authorize the Taiwan aid as emergency funds, which is what has been done for Ukraine.

(antiwar.com)

See how good it is to bribe Congress?

Think about it…..almost a trillion dollars for war…..and pennies for the infrastructure and such.

People are idiots!….they allow this to continue.

I Read, I Write, You Know

“lego ergo scribo”

Yet Another Failure

I have been very vocal on my opposition to the waste of American taxpayer cash…..there is waste at every level of our government but the most wasteful is the Pentagon who seems to get more cash than they ask for in their budget requests.

And yet they cannot keep up with their waste…..and yet they failed yet another audit of their books.

Department of Defense revealed that it had failed its fifth consecutive audit. 

“I would not say that we flunked,” said DoD Comptroller Mike McCord, although his office did note that the Pentagon only managed to account for 39 percent of its $3.5 trillion in assets. “The process is important for us to do, and it is making us get better. It is not making us get better as fast as we want.”

The news came as no surprise to Pentagon watchers. After all, the U.S. military has the distinction of being the only U.S. government agency to have never passed a comprehensive audit.

But what did raise some eyebrows was the fact that DoD made almost no progress in this year’s bookkeeping: Of the 27 areas investigated, only seven earned a clean bill of financial health, which McCord described as “basically the same picture as last year.”

Given this accounting disaster, it should come as no surprise that the Pentagon has a habit of bad financial math. This is especially true when it comes to estimating the cost of weapons programs.

The Pentagon’s most famous recent boondoggle is the F-35 program, which has gone over its original budget by $165 billion to date. But examples of overruns abound: As Sens. Jim Inhofe (R-Okla.) and Jack Reed (D-RI) wrote in 2020, the lead vessel for every one of the Navy’s last eight combatant ships came in at least 10 percent over budget, leading to more than $8 billion in additional costs.

And another major overrun is poised to happen soon, according to a recent report from the Congressional Budget Office. 

The Navy plans to expand its ship production in an effort to maintain an edge over China, with a particular focus on a new attack submarine and destroyer ship. The Pentagon has proposed three versions of this plan at an average cost of $27 billion per year between 2023 and 2052, a 10 percent jump from current annual shipbuilding costs. 

But the CBO says this is a big underestimate. The independent agency’s math says the average annual cost of this shipbuilding initiative will be over $31 billion, meaning that the Navy is underestimating costs by $120 billion over the program’s life.

The Pentagon fails its fifth audit in a row

The DoD keeps flushing cash down the toilet and no one cares or even knows where this cash goes.

When will the American people start caring where their money goes….maybe they should focus on the Pentagon and less time worrying about meals for seniors or hungry kids.

Just a thought.

I Read, I Write, You Know

“lego ergo scribo”