Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

New U.S. Military Spending Bill Expands American Empire But Forbids Debate on War

Politics / US Military May 18, 2015 - 06:18 AM GMT

By: Dr_Ron_Paul

Politics

On Friday the House passed a massive National Defense Authorization for 2016 that will guarantee US involvement in more wars and overseas interventions for years to come. The Republican majority resorted to trickery to evade the meager spending limitations imposed by the 2011 budget control act - limitations that did not, as often reported, cut military spending but only slowed its growth.


But not even slower growth is enough when you have an empire to maintain worldwide, so the House majority slipped into the military spending bill an extra $89 billion for an emergency war fund. Such "emergency" spending is not addressed in the growth caps placed on the military under the 2011 budget control act. It is a loophole filled by Congress with Fed-printed money.

Ironically, a good deal of this "emergency" money will go to President Obama's war on ISIS even though neither the House nor the Senate has debated - let alone authorized - that war! Although House leadership allowed 135 amendments to the defense bill - with many on minor issues like regulations on fire hoses - an effort by a small group of Representatives to introduce an amendment to debate the current US war in Iraq and Syria was rejected.

While squashing debate on ongoing but unauthorized wars, the bill also pushed the administration toward new conflicts. Despite the president's unwise decision to send hundreds of US military trainers to Ukraine, a move that threatens the current shaky ceasefire, Congress wants even more US involvement in Ukraine's internal affairs. The military spending bill included $300 million to directly arm the Ukrainian government even as Ukrainian leaders threaten to again attack the breakaway regions in the east. Does Congress really think US-supplied weapons killing ethnic Russians in eastern Ukraine is a good idea?

The defense authorization bill also seeks to send yet more weapons into Iraq. This time the House wants to send weapons directly to the Kurds in northern Iraq without the approval of the Iraqi government. Although these weapons are supposed to be used to fight ISIS, we know from too many prior examples that they often find their way into the hands of the very people we are fighting. Also, arming an ethnic group seeking to break away from Baghdad and form a new state is an unwise infringement of the sovereignty of Iraq. It is one thing to endorse the idea of secession as a way to reduce the possibility of violence, but it is quite something else to arm one side and implicitly back its demands.

While the neocons keep pushing the lie that the military budget is shrinking under the Obama Administration, the opposite is true. As the CATO Institute pointed out recently, President George W. Bush's average defense budget was $601 billion, while during the Obama administration the average has been $687 billion. This bill is just another example of this unhealthy trend.

Next year's military spending plan keeps the US on track toward destruction of its economy at home while provoking new resentment over US interventionism overseas. It is a recipe for disaster. Let's hope for either a presidential veto, or that on final passage Congress rejects this bad bill.

Dr. Ron Paul
Project Freedom

Congressman Ron Paul of Texas enjoys a national reputation as the premier advocate for liberty in politics today. Dr. Paul is the leading spokesman in Washington for limited constitutional government, low taxes, free markets, and a return to sound monetary policies based on commodity-backed currency. He is known among both his colleagues in Congress and his constituents for his consistent voting record in the House of Representatives: Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution. In the words of former Treasury Secretary William Simon, Dr. Paul is the "one exception to the Gang of 535" on Capitol Hill.

Dr. Ron Paul Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in