Samson: For the first time … the space force of a new branch in the US military
18th December, 2019
The US Senate approved, by an overwhelming majority, a $ 738 billion defense policy bill that would allow the creation of a “space force” proposed by President Donald Trump, and would give Defense Department employees a 12-week paid family leave.
The bill is due to be sent to the White House, and Trump has pledged to adopt it as quickly as possible.
The Republican-controlled Senate approved by 86 votes to only eight, according to Reuters.
Last week, the Democratic-controlled House of Representatives passed the bill by 377 votes to 48.
Trump said on Twitter last week that he would sign the bill once it was passed, stressing that it included all of his priorities.
The bill included a 3.1 percent increase in military wages, for the first time paid leave for all federal workers in the Department of Defense, and the creation of a space force that was the first new branch in the US military in more than 60 years. LINK
Iobey777: So, just how does Trump plan on financing this little project? Hmmm? (smile)
Samson: America allocates 71 billion dollars to its military operations in four countries, including Iraq
08:55 – 18/12/2019
The US Congress approved, in a Senate vote, the Defense Budget Act for the fiscal year 2020, which amounted to 738 billion dollars, while the amount of 71 billion dollars was devoted to its military operations in four countries, including Iraq. By 86 votes to 8, members of the Senate approved the bill, which is located in more than three thousand pages, which also gives, for the first time, parental leave to all Ministry employees.
This budget law provides for the creation of a “space force” that will become the sixth branch of the US armed forces, after land, sea, air, marines, and coast guard weapons. This force will be led by the Chief of Space Operations, who will be under the authority of the Minister of the Air Force. The law did not allocate any additional funding at this time because the “space leadership” that Trump wants to create is still under construction.
According to the law, US military spending during the fiscal year 2020 that started in October is $ 738 billion, an increase of 3% compared to last year. This figure covers the Pentagon’s core budget ($ 635 billion) and expenditures that the Energy Department has budgeted to maintain and fuel the US nuclear arsenal ($ 23.1 billion), in addition to $ 71.5 billion earmarked for military operations going on outside the country (Afghanistan, Syria, Iraq, Somalia). Likewise, the budget law does not prevent the White House master from using the funds allocated to the Ministry of Defense to finance the construction of a border wall with Mexico, a project that is one of Trump’s primary electoral promises in his previous election campaign in 2016.
The budget also includes a 3.1% increase in salaries Members of the armed forces, the highest increase they receive in a decade. The law also imposed sanctions on the government of Syrian President Bashar al-Assad, with the aim of “ending its deadly attacks against the Syrian people and supporting the transition to a Syrian government that respects the laws, human rights and peaceful coexistence with its neighbors.”
The law, in particular, gave the US Treasury Department six months to determine whether the Central Bank of Syria was involved in money laundering operations in order to impose sanctions on it if it was proven that. LINK
Samson: Moody’s: Chinese corporate debt the “biggest threat” to the global economy
18th December, 2019
An analyst at Moody’s considered that China’s corporate debt represented “the greatest risk” to the global economy
Mark Zandi, chief economist at Moody’s credit rating agency, said in remarks carried by US CNBC yesterday that Chinese companies ’debt is the biggest risk to the global economy now, with the fact that it is growing very quickly
“Zandi” believes that many Chinese companies struggle to deal with the country’s economic slowdown, due to trade crises and other factors
And Fitch reported last week that private companies in China had defaulted on their debt this year
“Fitch” noted that 4.9 percent of Chinese private companies had defaulted on their debts denominated in local currency (yuan) in the first 11 months of this year, which is a record high, compared to 0.6 percent in 2014
China has experienced the lowest economic growth rate in more than 27 years, amid trade friction with the United States and declining global demand with slowing growth in a number of major and developing economies LINK