This is a not so subtle hat tip to China to go ahead and invade Taiwan.
“Low on ammo” is an afterthought........dreamed up on the
fly b/c they got the word that Americans are sick of it.
They’re loathe to give anymore of their tax dollars to
these pampered foreigners.
We do not have $106 billion to giveaway. We have to go
into debt and stick future generations with the bills.
Why dont these people stand on their own two feet? Wealthy Israel
and money grubbing Ukraine should do their own borrowing.
zerohedge.com
BY TYLER DURDEN
MONDAY, OCT 23, 2023 - 04:40 PM
via David Stockman’s Contra Corner
Joe Biden’s Hideous $106 Billion War Package
There is not one dime in “Joe Biden’s” war package that enhances the safety and security of the American homeland, yet all of it is being blithely charged to Uncle Sam’s vastly over-extended credit card.
Nor should you take our word for it. What’s left of the Fed-tortured bond market cried out for help this AM, tagging the 5.00% level on the benchmark 10-year UST for the first time since June 2007.
Back then, the public debt was $8.8 trillion, meaning every 100 basis points of increased yield added $88 billion to annual debt service. Today, of course, the public debt is $33.5 trillion, and the incremental debt service on 100 basis points will amount to $335 billion or nearly 4X more.
snip
There is a fiscal elephant in the room nearly the size of the nation’s monstrous defense budget itself, yet the semi-comatose occupant of the Oval Office chose this moment to indulge in the absolute worst game of log-rolling politics we have ever witnessed..........the “Joe Biden” boondoggle includes:
$61 billion for the Ukraine warhawks
$14 billion for virtue-signaling against Hamas
$14 billion to usher in more border jumpers
$14 billion for various bleeding heart “humanitarians”
$3 billion walking around money for various corrupt factotums
snip
Still, do these clueless fools not understand they are now staring fiscal catastrophe square in the face? As of Q2 2023 the annualized rate of interest expense on the public debt clocked in at $909 billion, which represented a doubling of the level which prevailed when the voters last put a Republican in the White House to, well, rein in the red ink!
........the Washington neocons insist upon it, the defense contractors are luxuriating in it and the US military is getting a grand munitions and weapons testing range in the bargain.
snip
19 posts before someone thought to look at China taking notes about US stockpiles, location of carrier strike groups and peeking at Taiwan with calculating eyes.
Folks better believe China taking Taiwan would be an unmitigated disaster.
The chip shortage of a couple of years ago was NOTHING compared to being totally cut off.
Will China take Taiwan?
OK, anyone remember Hong Kong?
.