US Budget Blunders

$250mn each day for 16yrs: The staggering cost of ‘War on Terror’
The ‘War on Terror’ cost US taxpayers at least $1.46 trillion since September 11, 2001, the Department of Defense’s cost of war report has revealed. The 74-page DoD dossier was obtained by the Federation of American Scientists’ Secrecy News. It breaks down the cost of the US’s various conflicts and reveals the ongoing [...]
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Up Up and Away: Performance Uncertainty, Repair Issues Drive F-35 Cost Growth
The F-35’s dismal performance record is driving up operating costs for the fighters, according to a recent government report. The F-35’s unreliability and slow repair time contribute to its tendency to be something of a black hole for US taxpayer dollars. [...]
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Pentagon Denies It Hid Report Showing More Than $100 Billion in Waste
On Tuesday the Pentagon denied that it attempted to cover up a study from 2015 indicating potential savings in noncombat administrative programs of $125 billion. Through recommendations based on a back-office waste evaluation, the Defense Department hopes to save $7.9 billion in the next five years. [...]
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America is Tired
The major takeaway from the US Presidential election, and from the events which have shaped the first two weeks of Donald Trump’s Presidency - both his actions and the reactions of his opponents - is that America is tired. It is not difficult to see why since the US has for decades been behaving in a way that was guaranteed [...]
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The Reason College Isn’t Free in America: US Army ‘Misreported’ $6.5 Trillion
The Department of Defense finds itself in a controversy that continues to unfold in the wake of an Inspector General Report in June that found that the US Army's financial summaries misstated balances by $6.5 trillion. A June report by the Defense Department’s Inspector General uncovered that the Army made $2.8 trillion in [...]
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Obama’s Offering of Largest Military Aid Package Ever Is Not Enough for Israel
Israeli officials play hardball, demanding that the Obama Administration pony up more than the record $40 billion ten-year offering made by the US -- by a cool $10 billion Last week, US Chairman of the Joint Chiefs of Staff Joseph Dunford met with his Israeli counterpart at the Pentagon to discuss the new multi-billion-dollar [...]
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US debt hits record $19 trillion
The United States federal debt has surpassed $19 trillion for the first time in history according to the Treasury Department. However, the real figure could exceed $65 trillion, according to a former US Comptroller General. The official debt of $19 trillion represents almost $60,000 for every man, woman and child living in Am [...]
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‘Great partners’: Pentagon rejects Russian evidence of Turkey aiding ISIS
A Pentagon spokesman rejected Russia’s evidence of Turkey’s involvement in oil deals with Islamic State militants, calling Turkey a “great partner” just a day after his boss complained to Congress that Ankara was not fighting ISIS enough. “Let me be very clear that we flatly reject any notion that the Turks are some [...]
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US financial bubble ready to burst – Robert Shiller
More and more investors are expressing concern that US stocks are overvalued, which may result in a major bear market - characterized by falling prices and widespread pessimism, Nobel laureate in economics Robert Shiller told the FT. Studies have shown that the level of uncertainty among investors has peaked since the end of [...]
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“Money can’t buy all airwaves”: RT host launches campaign against US media empire
RT’s Anissa Naouai has launched a crowdfunding campaign urging viewers to send a symbolic message to the US State Department and Washington’s media empire, donating money to fight autism. The GoFundMe project was launched by the host of RT’s 'In the Now' program, Anissa Naouai, after the US Secretary of State asked for [...]
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US Senate passes emergency funding for Israel’s Iron Dome
The Senate overwhelmingly approved an emergency measure early Friday that could give $225 million in additional revenue to Israel for the country's Iron Dome missile defense system. Senate Majority Leader Harry Reid (D-Nevada) received unanimous consent from his colleagues Friday morning when he asked them to consider approvi [...]
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F-35 fleet grounded for the eighth time over unknown engine issue
As the cost of Lockheed Martin's F-35 fighter jet continues to grow, so do the headaches: the United States military announced on Thursday that its entire fleet of aircraft has been grounded until engine inspections are completed. The decision comes as the Pentagon struggles to find the source of yet another problem with the $39 [...]
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Pentagon wants additional $4.5 bln to fix failed missile defense interceptors
In a bid to beef up its missile defense systems, the United States Department of Defense intends to request $4.5 billion in additional spending over the next five years, according to a report by Reuters. The move – disclosed by Riki Ellison of the Missile Defense Advocacy Alliance and two unnamed congressional sources – come [...]
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US missile defense system proves to be useless after $40 bln spent
Despite a decade of testing and tens of billions of dollars'€™ worth of research, a major missile defense program in the United States has proven to be anything but successful, a new investigation suggests. Nevertheless, the Missile Defense Agency, or MDA, plans on conducting next week its ninth exercise of that costly system [...]
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