Huge Military Budgets Make Us Broke, Not Safe

aerial shot of Pentagon

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We’re all tense. Hearing about our fellow citizens in Hawaii scrambling around, looking for a place to hide from a nuclear bomb, will do that to you. So will contests between two unstable world leaders over the size of their nuclear buttons.

Now, some politicians say they’ll protect us by adding massive amounts to the Pentagon budget. This seems like a no-brainer: feel threatened, give more money to the military. But it isn’t.

Practically everyone from the president on down, though, seems to take it as a given. “In confronting these horrible dangers,” Donald Trump said during his State of the Union, “I’m calling on Congress” to “fully fund our great military.”

The president and his party are now looking to add somewhere between $ 30 and $ 70 billion more in military spending to their budget for next year — on top of the increases for this year. Democrats seem willing to go along, with a few caveats.

Nobody seems worried anymore about adding to the financial hole we just dug for ourselves and our children with $ 1.5 trillion in tax cuts for the rich.

It’s true that the military needs predictability, which has been hobbled by politicians who can’t get it together to pass a real budget. Every enterprise, except maybe improv comedy, does. But it’s not true that the military needs more money.

The portrait of a “starved” military, which Trump and his secretary of defense like to complain about, airbrushes out a few facts.

We’re now spending more on the military, adjusted for inflation, than at any time since World War II — including during the Reagan and George W. Bush buildups. We spend more than the next eight countries put together.

Worse still, the military can’t even say what it’s actually spending — it’s still the only federal agency that can’t pass an audit. The brass says they’ll really try this year, but I’ll believe it when I see it.

Trusting the Pentagon to rein in its own waste hasn’t worked. Back in 2015, the Pentagon’s own commissioned report found $ 125 billion in administrative waste that could be cut over five years. But then they simply buried the report.

Here’s what we really need to feel safer: Leaders who are working to reduce nuclear tensions rather than rev them up.

Instead, in addition to firing off scary tweets, Trump repeated calls in his State of the Union to “modernize and rebuild our nuclear arsenal,” to the tune of $ 1.7 trillion. Why? The 4,000 nukes we currently have — enough to destroy the entire planet — seem like an adequate deterrent.

Leaders are meanwhile working on designs for new “lower yield” nukes, envisioning them as tools for “limited” nuclear war. That makes nuclear war seem more feasible, and therefore more likely. Feeling safer yet?

And they want to build up the arsenal of conventional weapons, mostly to counter China. But China is expanding its influence around the world not mainly through military spending — its military budget is only a third of ours — but through its civilian investments.

As the U.S. retreats from providing development aid, China is filling the vacuum. As the U.S. cuts off its previous investments in clean energy technology, China has become the solar panel provider to the world.

Our new security strategy, by the way, has also airbrushed out climate change. A military that previously identified climate change as “an urgent and growing threat to national security” is now barred by the administration from talking about it at all.

While we contemplate spending money we don’t have for weapons we don’t need, the urgency of this threat continues to grow.

The post Huge Military Budgets Make Us Broke, Not Safe appeared first on Institute for Policy Studies.

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Black and Latino Families Will Be Broke in a Few Decades if We Don’t Fix the Wealth Divide

Black women equal pay

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Many people see progress on racial equity in the U.S. as a steady march forward, in which people of color become more equal with their White counterparts as the years go by.

Those are people who don’t pay attention to household wealth figures.

A new report I co-authored, “The Road to Zero Wealth,” looks at the past 30 years of wealth accumulation across racial lines, as well as what the future will bring if current trends continue. Our findings were bleak.

The divide between the wealth of a typical Black family and a typical White family today is vast. A median Black family has just $ 1,700 in wealth—total assets minus total debt. Thirty years ago, that same family had $ 6,800 in today’s dollars. Latino families at the median have similarly small assets, just $ 2,000, also seeing a decline over the past three decades.

White median household wealth, meanwhile, is significantly higher: $ 116,800, up from $ 102,000 over the same period.

So Black and Latino families at the middle have seen their wealth slip while white families in the middle saw their wealth rise. What does this look like projected into the future?

By 2053, just 10 years after the country is projected to become majority non-White, Black median families will own zero wealth if current trends continue. Twenty years later, Latino median families will follow suit. White median families will continue to own six figures.

Even those Black and Latino families who’ve achieved the traditional markers of middle class life—a good-paying job and a college degree—still lag far behind their White counterparts in terms of wealth. Black and Latino families with a member holding a four-year degree own just a fifth of the wealth of equivalent White families. In fact, they own less wealth than a White family whose head has just a high school diploma.

These numbers represent a troubling trend in which assets and economic opportunities are channeled away from families of color and toward White families.

The enduring legacy of slavery and the Jim Crow era contribute to this growing divide. For instance, just 2% of the heavily subsidized mortgages made available by the Federal Housing Administration in the 30 years following the Great Depression went to non-White households. Homes are the biggest asset most middle-class families own, so this sort of federally sanctioned discrimination created a huge, inter-generational disadvantage for the Black and Latino families left out.

Modern public policy decisions rooted in expanding inequality also play a significant role. One such policy is America’s complex system of tax expenditures—essentially discounts handed out to certain groups and individuals that together total more than a half a trillion dollars in public spending each year.
One example is the mortgage interest deduction, a tax break designed to promote homeownership. Unfortunately, the deduction is only available to those who itemize their tax returns, which skews the beneficiaries heavily toward the already wealthy—who are disproportionally White.

Changing our priorities around tax incentives, as well as investments in bold new programs like Children’s Savings Accounts (CSA) and a federal jobs guarantee, could reverse the decades-long rise in the racial wealth divide. Had Congress instituted a robust universal CSA program in 1979—seeding small savings and investment accounts for all children that could mature as they grew older—the white-Latino wealth gap would have disappeared by now and the white-black gap would have dropped by 82%.

Policy changes like these would require bold leadership from across the federal government, including Congress and the White House. In today’s political atmosphere, marked most often by scandal and regressive policy decrees as well as congressional gridlock, this does not appear forthcoming.

The good news, however, is that the policies needed to begin to turn the tide on our growing divide are readily at hand. We know what the problem is and how to fix it. Building the political will, and political power, to put such policies in play is the next step.

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How “Mr.” Hass Broke The Barrier – New Haven Independent

How “Mr.” Hass Broke The Barrier
New Haven Independent
She was the child who most enjoyed helping out. So she got to herd pigs, care for the cattle. “My father treated me like I was a son.” Until that day he told her to go inside. Hass had turned 16 years old at the time. …. Levine brought her to the

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INVESTIGATION: Evicted And Abandoned: How The World Bank Broke Its … – Premium Times


Premium Times
INVESTIGATION: Evicted And Abandoned: How The World Bank Broke Its
Premium Times
“It's like when a woman goes in for labor, and the baby comes out dead,” she said. “That's how it felt to me.” The Lagos … Ethiopian authorities diverted millions of dollars from a World Bank-supported project to fund a violent campaign of mass

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Options limited for broke, addled and hopeless on Afghanistan’s heroin highway – Stars and Stripes


Stars and Stripes
Options limited for broke, addled and hopeless on Afghanistan's heroin highway
Stars and Stripes
In 2013, Herat province produced slightly more than 6,600 pounds of saffron, harvested from about 1,400 acres of land, and almost no poppy, according to government figures. But even that program has hit a major snag: farmers struggle to get their

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We’re Not Broke

This commonsense guide to avoiding the fiscal swindle would nearly eliminate the budget deficit while making the United States more equitable, green, and secure.

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Farm worker says accident has ‘broke him forever’ – Maple Ridge News

Farm worker says accident has 'broke him forever'
Maple Ridge News
He says the rights that Canadians cherish don't seem to apply when he steps onto the fields to work for one of North America's largest blueberry farms –Purewal Brother Enterprise Ltd. which owns 1000 acres of farmland in Pitt Meadows. Speaking in

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