Spending:
Why did the
banks fail? Both parties for 25 years deregulated the financial
industry.
NEWS: What
the Bush years really cost us, and how President Obama can
get the economy back on track.
By Joseph E. Stiglitz
November/December 2008 Issue
How Washington Will Spend Your Taxes in 2008
By
Brian M. Riedl
April 15, 2008
Do You
Know Where You IRS Check Goes?
Huffington Post - New York,NY,USA
The country's in a real budgetary jam, and regardless of which party takes the
White House, there's going to be pressure to cut spending in areas deemed
...
See all stories on this topic
Despite
economic slowdown, healthcare and defense companies are ...
Raw Story -
Cambridge,MA,USA
Defense contractors are also posting growth. In 2008 dollars,
yearly expenditures top peaks reached during the Korean and Vietnam wars, and
amount to three ...
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February 27, 2008
Companies Are Piling Up Cash
By DIANA B. HENRIQUES
The total cash held by companies in S.&P.’s industrial index exceeded $600
billion in February, up from about $203 billion in 1998.
Defense Spending in USA and Other Countries: Arms Race?
The U.S.
Employment Effects of Military and Domestic Spending Priorities
- Number of jobs created by spending $1 billion on defense: 8,555
Number of jobs created by spending $1 billion on health care: 10,779
Number of jobs created by spending $1 billion on education: 17,687
Number of jobs created by spending $1 billion on mass transit: 19,795
- It is true that jobs generated by military spending tend to pay
relatively well, which is part of the reason why fewer jobs are created per
dollar of expenditure than through alternative spending targets. However, we
have also seen that $1 billion in spending on education, on average,
generates more than twice the number of jobs as military spending as well as
higher-paying jobs.
- Spending on health care, mass transit, and home
weatherization/infrastructure creates jobs at a lower average level of pay
than military spending.
- But these three spending targets do:
- create substantially more jobs than military
spending,
- with an overall level of pay, combining all
workers’ paychecks and benefits, higher than the military.
- Moreover, a substantial majority of the jobs generated through a health
care, mass transit or construction spending expansion will pay more than
$32,000 per year, our rough threshold for a minimally decent income level.
The majority of jobs pay between $32,000 - $64,000, a rough middle-income
pay range.
- Health care, mass transit, home weatherization, and infrastructure
repair are all also high priority areas for social spending. More spending
in these areas could be combined with improving the average level of pay,
while still creating more jobs per dollar of expenditure than the military.
Top US commander in Pacific
concerned about China's military spending
WWSB -
Sarasota,FL,USA
China has announced an almost 20% boost in defense spending on top
of its nearly $59 billion budget. It's the 18th double-digit percentage increase
in 19 ...
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Taiwan worried
about China's military spending
Radio Taiwan International -
Taipei,Taiwan
Taiwan is worried about China's increased military spending. The
government believes that China's defense budget in 2008 will
increase from US$110 to 170 ...
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Taiwan: China Boosts Military Spending
The Associated Press -
Gong Chien-hua — an intelligence expert in the deputy chief of staff's office —
told reporters that
Taiwan believes China's defense spending in 2008 will
...
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Key Congressional Panels Set FY-09
Military Spending at DOD ...
InsideDefense (subscription) -
Washington,DC,USA
“There’s not much evidence that Democrats are calling for deep cuts in
defense spending,” said Steven Kosiak, defense budget expert at the
Center for ...
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Russia’s military strategy
The Post -
Lahore,Punjab,Pakistan
Currently,
Russia supplies no gas and accounts for only five percent of Chinese
imports of oil. The pipeline deal between two countries will
assist
China to ...
See all stories on this topic
Arms race in
South Asia
The Post -
Lahore,Punjab,Pakistan
Amid the all-time high arms shopping frenzy,
India raised its defence spending on February 29 by 10 percent to
$ 26.5 billion for 2008/09, ...
See all stories on this topic
US concerned
by rise in Chinese military spending
Reuters - USA
China said
on Tuesday it will raise defense spending by nearly a fifth in
2008 to increase the pay of personnel, improve training and upgrade military
...
See all stories on this topic
India should read tea leaves on Chinese military spending
Khabrein.info
-
New Delhi,Delhi,India
The defence allocation for financial year (FY) 2008-09 (beginning
April 1) has been pegged at Rs.1056 billion and this is to be seen
against the actual ...
See all stories on this topic
China says US
exaggerating Taiwan threat
Houston Chronicle - United States
The editorial comes days after
China announced a 17.6 percent increase in military spending — the
18th double-digit percentage rise in 19 years — and ...
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Senior PLA officer: China's
military power no threat to any country
Xinhua - China
Chinese government has persisted in the "coordinated development" of national
defense and economic growth, and raised military spending
"moderately" with ...
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Pelosi to USAF: Build Your Damn
Planes in the US
By Richard Blair
There’sa reason we have a military-industrial complex, and national defense
is only a small sliver of the rationale for it. The major purpose of defense
spending is to direct money into the US economy - into the pockets of
American ...
All Spin Zone - http://allspinzone.com/wp
U.S. warship
stirs Lebanese fear of war
The
USS Cole has deployed off the coast of
Lebanon as that nation's political crisis deepens.
Read More ...
Why ring
around the collar has made America strong.
By Case Wagenvoord(Case Wagenvoord)
Decades of robust defense spending have made this feedback loop, once the
sole possession of the paranoid, a way of life. DOD file films of Blue Angels
executing their intricate dances in the sky and waves breaking over the bows of
...
- http://belacquajones.blogspot.com/
By DAVID LAGUE (NYT)
Sustained increases in its annual defense outlays put
China on track to become a major military power.
India, China boost defence budgets
By Nazia Vasi
Four days after
India, the world’s fourth largest military raised its defence spending
by 10% to $26.5 billion for 2008-09 or about 2.5% of its GDP,
China, the world’s largest standing force upped its defence budget
by 18% to a whopping ...
2point6billion.com - http://www.2point6billion.com
China flays
Pentagon report on its military might
Hindu -
Chennai,India
China today announced a 17.6 per cent hike in its defence budget for
2008 ahead of the session of its parliament, National People's Congress,
beginning from ...
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China to Raise 2008
Military Budget by a Record 19.4% (Update1)
Bloomberg - USA
Jiang didn't disclose China's 2008 defense budget as a proportion
of the economy or the government's total spending. The PLA's 2007
defense budget was 1.4 ...
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China to hike defence
spending by $9 bn in 2008
MSN India -
Bangalore,Karnataka,India
The proposed budget for 2008 is 417.769 billion yuan ($57
billion), a rise by 17.6 per cent or 62.379 billion yuan ($9 billion)
from the military spending ...
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Defense budget to grow 17.6% in 2008
China Internet Information Center| -
China
The planned defense budget for 2008 is 417.769 billion
yuan, a rise of 62.379 billion yuan from the actual military spending
last year, Jiang Enzhu, ...
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China
to boost military spending
ABC Online -
Australia
At a press conference ahead of the annual National People's Congress,
Vice Secretary General Jiang Enzhu said China's 2008 defence
budget of $61 billion is ...
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The Growing
Military-Industrial Complex in Asia
By Bill Totten(Bill Totten)
The Bush administration trumpets its accomplishment of increasing military
spending 74 percent since 2001. In addition to the $12.7 billion for new
warships, there's $17 billion for new aircraft and over $10 billion for missile
defense. ...
Bill Totten's Weblog - http://billtotten.blogspot.com/
Tennessee’s Part in Milking the Nation’s Cash Cow
By Dustin Ogdin
According to the Department of Defense’s own statistics, their 2007
budget was $471 billion. For comparison’s sake, the Department of Education’s
website states their 2007 budget was about $58 billion, or 12% of military
spending. ...
spoke digital films - http://www.spokefilms.com
Linda Bilmes
on Our 'Three Trillion Dollar War'
NPR - USA
A 2006 survey by the Department of Defense's Central Command showed that
the United States is employing more than 100000 private contractors; ...
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Nation's
defense spending on path to disaster
The Southern -
Carbondale,IL,USA
The US spends more on defense than the rest of the world combined.
Defense-related spending will exceed $1 trillion in 2008,
including $481 billion for the ...
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-
In an article titled "Going Bankrupt," author Chalmers
Johnson links the debt crisis to our nation's huge military establishment.
He names three aspects of the crisis.
-
First is the "insane amount of money" spent on defense
projects that "bear no relationship to our national security."
Simultaneously, the income tax burden on the richest Americans is being kept
at "strikingly low levels."
-
Second, he claims there is a mistaken belief that frequent
wars, huge weapons expenditures and a large army can sustain our economy,
when in reality they cannot "compensate for the accelerating erosion of our
manufacturing base and our loss of jobs to foreign countries."
-
Third, the failure to invest in our social infrastructure -
education, health care, the environment and manufacturing competitiveness -
"threatens our long-term health."
-
Instead of a fiscally responsible policy of taxing to cover
spending, President Bush has pursued a policy of cutting taxes and spending
anyway. Under his leadership, our national debt has grown 45 percent to more
than $9 trillion, mainly because of massive defense expenditures and huge
tax cuts. Sadly, his tax cuts have primarily benefited the wealthiest 1
percent of citizens and worsened our income inequality.
A Look at
Government Spending
Since 1976, the amount of federal spending, except for defense,
has averaged about one-sixth of GDP. The numbers haven’t strayed too far from
the average. About two-thirds of the time, spending has been between
15.9% and 17.1%. ...
CrossingWallStreet.com - http://www.crossingwallstreet.com/
Proposed Military
Spending Is Highest Since WWII
-
The Pentagon on Monday will unveil its proposed 2009 budget
of $515.4 billion. If it is approved in full, annual military spending, when
adjusted for inflation, will have reached its highest level since World War
II.
World Military Expenditures $1100
billion. USA Military Expenditures $623 billion in 2004
-
World military expenditure in 2005 is estimated to have
reached $1,001 billion at constant (2003) prices and
exchange rates, or $1,118 billion in current dollars;
- This corresponds to 2.5 per cent of world GDP or an
average spending of $173 per capita;
- World military expenditure in 2005 presents a real terms
increase of 3.4 per cent since 2004, and of 34 per cent over
the 10-year period 1996–2005;
- The USA, responsible for about 80 per cent of the
increase in 2005, is the principal determinant of the
current world trend, and its military expenditure now
accounts for almost half of the world total;
Graph: U.S. military spending vs. the world in 2008
China to hike defence
spending by $9 bn in 2008
By
India eNews
China will increase its defence budget by $9 billion in
2008, a parliament spokesperson said here Tuesday.
India eNews - http://www.indiaenews.com/
China's military budget is
like tasty mouse meat for the 'hawks ...
Any country which still claims the title of "developing" should in no way be
spending some 417.8 billion Yuan (57.2 billion USD) in 2008
(official figures) on a military that does virtually nothing. And there is
absolutely no reason why ...
Zhongnanhai - http://www.zhongnanhaiblog.com/
Pentagon says China's lack of
transparency on military buildup ...
WWSB -
Sarasota,FL,USA
This includes a lack of clarity about China's defense spending. And the
report says this could lead to misunderstandings and miscalculations as other
...
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Pentagon releases report on Chinese military power
By Meredith MacKenzie
The report does note an uptick in
Taiwan’s spending to 3 percent of GDP in 2008. The increase
is also directed at increasing missile technology The report said that the
United States remains helpful in providing information to
Taiwan to ...
The Talk Radio News Service - http://talkradionews.com
DefExpo: The
Indian arms bazaar heats up
IndiaPost.com -
Union City,CA,USA
The huge potential of the Indian arms market is what makes it attractive to
global companies who are constrained by shrinking defense spending in
their ...
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UK &
World News: Tories make defence spending pledge
A Tory government will maintain current spending levels on the Armed
Forces, shadow defence secretary Liam Fox said.
Liverpool Daily Post.co.uk - Home - News - http://www.liverpooldailypost.co.uk/liverpool-news/
US Asks China to be More
Transparent in Military Spending
By kyros(kyros)
In talks that ended
on Friday, just days before
Beijing is due to announce its 2008 military budget, US officials
stressed a need for greater mutual trust, said David Sedney, the US deputy
assistant secretary of defense for East Asia. ...
Report on Arrakis - http://reportonarrakis.blogspot.com/
Modernization
of Indonesia's military in question
Jakarta Post -
Jakarta,Indonesia
Efficient defense spending will require the Defense Ministry to
focus on development of the Navy, instead of the Army or Air Force, given the
fact that ...
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FDI limit in defence needs
to be increased to 49%: Assocham
Economic Times -
Gurgaon,Haryana,India
If the Indian economy continues to grow at current momentum, spending on
defence is projected to increase to 3 per cent of the GDP from the
current 2.8 per ...
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