Surging cost of living in US drives class tensions to the breaking point

The latest inflation data published Tuesday shows that the working class confronts months of immense hardships as wages lose their value in the face of rising living costs. The ruling class’s attempt to make the working class pay for the crisis of capitalism is driving workers into struggle across the world, including in the United States, where teachers, nurses, and possibly railroad workers are launching powerful strikes.

Surging cost of living in US drives class tensions to the breaking point

China’s neighbors are buying US weapons Washington isn’t delivering

China’s neighbors are buying US weapons Washington isn’t delivering

Even though the United States views these weapons sales as integral to deterring China from attacking Taiwan, some of the deals were publicly announced as far back as 2017.

The reasons – government delays, supply chain issues and production requirements – are numerous, and the problem won’t be easy to fix, Rep. Mike McCaul, R-Texas, the ranking member on the House Foreign Affairs Committee, told Defense News.

The U.S. government has approved the sale of 10 weapons systems Taiwan has yet to receive – some of which are not slated for delivery until the end of the decade.

The United States has flooded billions of dollars in weapons into Ukraine, including items that are part of Taiwan’s backlog, such as Harpoon anti-ship missiles, Stinger anti-aircraft missiles and High Mobile Artillery Rocket Systems.

For example, several Middle Eastern and eastern European countries are ahead of Taiwan in Lockheed Martin’s F-16 production queue. In 2019, the State Department approved an $8 billion Taiwan sale for 66 F-16s, but Taipei does not expect to receive the aircraft until 2026.

Saudi Arabia is still ahead of Taiwan on the priority list in some cases,” Rep. Mike Gallagher, R-Wis., told Defense News ahead of a July meeting with Taiwan’s Washington envoy. “We need to take a look at that.”

Biden’s student-loan debt forgiveness would cost $300 billion, report says — less than half of the defense budget

Biden’s student-loan debt forgiveness would cost $300 billion, report says — less than half of the defense budget

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.

Who are the 11 senators who voted against the burn pits bill for veterans?

Who are the 11 senators who voted against the burn pits bill for veterans?

Senators Mitt Romney, Thom Tillis, Rand Paul, Tommy Tuberville, Richard Shelby, Pat Toomey, Mike Crapo, James Lankford, Mike Lee, Cynthia Lummis, and James Risch ultimately voted against the bill.

Political commentators were less surprised to see Mr Paul oppose the bill, as the libertarian frequently opposes federal spending — unless it directly benefits him.

Mr Paul said the bill would put the economy “at risk” and attempted to include an amendment to the legislation that would cut spending on foreign aid in order to offset the cost. That amendment was ultimately voted down.

Mr Paul had no problem asking for federal aid when his home state of Kentucky saw severe damage caused by tornadoes in 2021. He has regularly opposed federal aid bills for other disasters, and has previously attempted to attach amendments that reduce foreign aid spending to offset the costs of disaster relief.

Mr Tillis, Mr Lee, and Mr Lankford said they opposed the bill over fears that it would allow more people to get treatment at the VA and increase wait times for veterans seeking healthcare. While wait times are never ideal, waiting weeks or even months for treatment is still a shorter wait than simply never being eligible for healthcare.

Cut all foreign aid!

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!

$1.5 trillion federal spending bill allocates $2.6 billion to programs that fight “disinformation” and “hate”

By Tom Parker | Reclaim The Net | March 11, 2022

The huge $1.5 trillion US federal spending bill, that’s expected to be signed into law by President Joe Biden today, allocates over $2.6 billion to “Democracy Programs” and requires these programs to combat “the misuse of social media to spread disinformation or incite hate.”

$1.5 trillion federal spending bill allocates $2.6 billion to programs that fight “disinformation” and “hate”