Student loans currently aren’t even profitable for the government. A July report from the Government Accountability Office (GAO) found that federal loans are actually projected to cost the government $197 billion, instead of bringing in what the Education Department estimated as a $114 billion profit, because of the various pauses and changes over the last couple of years.
The price of student-loan forgiveness pales in comparison to other major federal expenditures. Defense spending is projected to cost nearly $8.7 trillion over the next decade, according to the Congressional Budget Office, and will cost $796 billion in 2022 alone.
That $300 billion is also a fraction of how much borrowers hold right now; America’s student loan debtors currently owe $1.7 trillion.
While Biden has not publicly confirmed his plans for broad student-loan relief, he has said himself he will make the decision before August 31, when student-loan payments are set to resume. In April, he shot down $50,000 in relief — an amount many Democratic lawmakers and advocates have been pushing for — and recent reports have suggested his final amount will be near $10,000, which he pledged on the campaign trail.
Tag: Defense spending
On This Day — Reagan jokes about bombing Russia (August 11 1984) [MEDINT — Did Ronald Reagan Have Alzheimer’s Disease While in Office?]
Russian-Hating Dream of Brzezinski Clan Nears Fulfillment as Poland Agrees to Host Permanent U.S. Base and Turn Baltic Sea into NATO Lake
By Jeremy Kuzmarov – July 16, 2022
Mark Brzezinski, the U.S. Ambassador to Poland, is the son of the late Zbigniew Brzezinski, a descendent of Polish aristocrats and mastermind of U.S. foreign policy for decades, whose dream was to use Poland as a base to try to weaken and destroy Russia.
Mark is now at the center of the implementation of his dad’s plans.
Russian-Hating Dream of Brzezinski Clan Nears Fulfillment as Poland Agrees to Host Permanent U.S. Base and Turn Baltic Sea into NATO Lake
Who will pay for Biden’s new “forever war”?
This week, the United States and its NATO allies pledged to increase their troop presence in Europe seven-fold, in order to prepare for what they called “warfighting against nuclear-armed peer-competitors”–that is, war against Russia and China.
Who will pay for Biden’s new “forever war”?
Related:
Glenn Hubbard’s WSJ Op-Ed: NATO Needs More Guns and Less Butter
Hubbard is a nonresident senior fellow at the right-wing think tank, American Enterprise Institute!
The Centre of International Insecurity
The Biden administration is no longer in charge of the White House. Relying on a select network of think-tanks and their corporate proxies, the Big Defense is. What it wants, it seems to get.
The Centre of International Insecurity
Related:
Scott [Horton] is joined by Dan Steinbock to discuss an article he wrote about the network of Democratic organizations running American foreign policy. Steinbock has dug deep into the Center for a New American Security (CNAS) and WestExec Advisors, two organizations that have allowed top foreign policy officials to make money cycling between government, think tank and advisory roles. Steinbock also takes a step back and examines how these organizations are connected to weapons companies, Wall Street and technology firms.
6/27/22 Dan Steinbock: How Hawkish Democrats Make Money Pushing War
Military Could Keep Shipwreck Info From Public If New Amendment Passes
As members of the House of Representatives debate the details of their latest draft of the National Defense Authorization Act (NDAA), one possible addition came seemingly out of left field, or maybe 20,000 leagues. It could change the public’s access to information about military ships and aircraft that have sunk. The amendment, put forward by Rep. Austin Scott, a Georgia Republican, is said to have been motivated by unlawful salvaging operations that occur at these sites.
Military Could Keep Shipwreck Info From Public If New Amendment Passes
Explain It to Me, Please
by Philip Giraldi, Unz.com, Jun 21 2022
If you want a war with Iran, Russia, China and Venezuela tell me why and how it would benefit Americans
Explain It to Me, Please
Stop using the China ‘threat’ to throw more money at the Pentagon
Many want to increase already record high defense spending to confront Beijing. A new Quincy report lays out how the dangers are inflated.
Stop using the China ‘threat’ to throw more money at the Pentagon
The US is heavily reliant on China and Russia for its ammo supply chain. Congress wants to fix that.
The US is heavily reliant on China and Russia for its ammo supply chain. Congress wants to fix that.
Related:
Antimony is a critical mineral commodity for advanced technological uses and the U.S. imports over 70% of antimony consumed domestically. Most of our imported antimony comes from China, which is beginning to reduce its production. Understanding of the origin of this deposit, the largest known antimony deposit in the U.S., would aid in future exploration for undiscovered deposits of this type, both domestically and internationally.
[2018] Source – US Geological Survey
Congress has repeatedly authorized multimillion-dollar sell-offs of the U.S. strategic minerals stockpile over the past several decades, but Washington’s increased anxiety over Chinese domination of resources critical to the defense industrial base has prompted lawmakers to reverse course and shore up the reserve.
…
The stockpile was valued at nearly $42 billion in today’s dollars at its peak during the beginning of the Cold War in 1952. That value has plummeted to $888 million as of last year following decades of congressionally authorized sell-offs to private sector customers. Lawmakers anticipate the stockpile will become insolvent by FY25.
…
“A lot of what happened is Congress just getting greedy and finding politically convenient ways to fund programs that they weren’t willing to raise revenue for,” said Moulton.
Congress and Pentagon seek to shore up strategic mineral stockpile dominated by China
They only have themselves to blame!
PRC Could Starve US Military-Industrial Complex of Ability to Build Weapons With One Move: Report
The United States is the world’s largest exporter of armaments, accounting for more than 38 percent of international weapons sales between 2017 and 2021. The Pentagon is also the US military-industrial complex’s single largest buyer, with its $801 billion in military spending dwarfing that of all of Washington’s major adversaries combined.
PRC Could Starve US Military-Industrial Complex of Ability to Build Weapons With One Move: Report
Ms. Cat’s Chronicles 
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