Consortium News
Obama Keeps Pentagon Spigot Open
October 31, 2015
Though he ran for the White House as a “change” candidate, President Obama has mostly favored continuity, including bending to the usual pressure from the Military-Industrial Complex to keep the Pentagon spending flowing, as budget watchdog Chuck Spinney explains.
By Chuck Spinney
The Pentagon just won another small skirmish in its long war with Social Security and Medicare. That is the unstated message of the budget deal just announced gleefully by congressional leaders and President Barack Obama. To understand why, let’s take a quick trip down memory lane.
Last January, President Obama submitted Fiscal Year (FY) 2016 budget to Congress, and he proposed to break the spending limits on both defense and domestic programs. These limits are set by the long-term sequester provisions of the Budget Control Act of 2011 (BCA), which, for better or worse, is the law of the land, and Obama was asking Congress to change the law.
Mr.
Obama wanted to finance his ramped up spending proposals by increasing
taxes. Of course, he knew that the Republican-controlled Congress
lusted for defense increases but hated domestic spending, particularly
entitlements, such as Social Security and Medicare.
Read More Here
No comments:
Post a Comment
Hello and thank you for visiting my blog. Please share your thoughts and leave a comment :)