[Homer_J_Simpson]

Some Units Resist – 2
Napoleonic Relics Lost By Roadside, Berlin Says – 2
Government of India May Form Coalition – 2
The International Situation – 3
Britain Promises Not to Bomb Rome – 3
Five Danish Parties Unite in Programs – 3
Fight as Ship Sinks – 4
Merchant Ships Sunk in War – 4
Champlain is Sunk by Mine, Nazis Say – 5
Argentina Drops 5 Nazis From Army College Staff – 5
Prison Ship and Liner Sunk by War Action (photos) – 6
Raids in Wide Area – 7
The Leader of the ‘French Free Forces’ (photo) – 8
The Texts of the Day’s War Communiques – 9

Editorials – 10-11
Fourth of July-1940
For a Safe Holiday
While Britain Waits
Remembering Stephen Foster
New York’s Drydock
The Tenth Deficit
Chile and the Nazis

[Homer_J_Simpson]

http://www.onwar.com/chrono/1940/jul40/f04jul40.htm

Italians invade the Sudan

Thursday, July 4, 1940 www.onwar.com

In East Africa... The Italians advance from Abysinia into the Sudan occupying Kassala and Gallabat just over the border. The Italians use more than two brigades at Kassala which is defended by only two companies of the Sudan Defense Force.

In Romania... A new Cabinet is formed. The prime minister is Gigurtu and the Foreign Minister Manoilescu who represents the Iron Guard. The policies of the new government are clearly pro-German and anti-Semitic.

In the English Channel... The Luftwaffe attacks a convoy south of Portland; the Stuka dive-bombers sink 5 of the 9 ships involved.

[BroJoeK]

"The Tenth Deficit"

Back in the days when the New York Times was still editorially sane, the National Gross Debt and deficits still mattered to them.
Today they could care less.

But for those of us who do still care, we can note:
The National Debt here complained about was only 42% of GDP.
Today's Gross Debt is nearing 100% of GDP -- only ever exceeded during the post-war years of 1945 thru 1947.

And Roosevelt's deficit, which the NY Times also complains about, was then only 3.6% of GDP.
Today's deficit is over 10% of GDP.

But one thing remains constant: Democrats are always Democrats.
As the NY Times here pointed out, very little of that new debt went for increased military spending.

Then as now, most went for those typical Democrat buy-more-votes pork-barrel programs.