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Veterans at home: Writing off the nation’s debt has bipartisan support.
Congressmen Cory Mills, R-Fla., and Seth Moulton, D-Mass., join ‘Fox News Sunday’ to discuss future payments from the U.S. to Ukraine, balancing military spending with U.S. debt. country And the Pentagon failed its seventh consecutive audit.
The House of Representatives voted to pass the annual defense bill on Wednesday. This adds about $1 trillion to the national debt of $36 trillion.
The 1,800-page bill, known as the National Defense Authorization Act (NDAA), details how $895.2 billion would be allocated for defense and national security.
On Wednesday, the bill passed by a vote of 281-140, with 16 Republicans voting. Only 81 Democrats voted yes, while 124 voted no.
The bill now heads to the Senate for action before heading to President Biden’s desk for his signature.
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The Pentagon is seen from Air Force One as it flies over Washington, March 2, 2022. (AP Photo/Patrick Zemanski)
The bill comes as the U.S. national debt continues to increase rapidly and it shows no signs of slowing down.
As of Dec. 1, the national debt as of Sept. 11, which measures the amount of U.S. debt. Debt to creditors decreased to 36,163,442,396,226.61 US Dollar That’s according to the latest figures released by the U.S. Department of Treasury. The debt was down $8.8 billion from figures published the previous day.
By comparison, 40 years ago, the national debt was approximately $907 billion.
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U.S. Capitol Building in Washington, D.C., December 1, Nov. 2, 2024 (Celal Gunes/Anadolu via Getty Images)
Recent research from the Congressional Budget Office indicates that the national debt will grow to an astonishing $54 trillion over the next decade. This is due to an aging population and rising federal health care costs. Higher interest rates also cause pain from higher debt.
If such debt actually occurs It could jeopardize America’s economic standing in the world.
The national debt is soaring as a result of increased spending. President Biden and Democratic lawmakers
As of September 2022, Biden has approved approximately $4.8 trillion in borrowing, including $1.85 trillion for the COVID relief measure known as the American Rescue Plan and $370 billion for a bipartisan infrastructure bill. That’s according to the Committee for a Responsible Federal Budget (CRFB), a group that supports deficit reduction.
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President Biden visits with members of the 82nd Airborne Division at G2A Stadium on March 25, 2022 in Jasionka, Poland. (AP Photo/Ivan Vucci)
That, though, is about half of the $7.5 trillion that President Donald Trump added to the deficit while he was in office. But it’s more than the $2.5 trillion Trump approved at that same point during his first term.
Biden has repeatedly defended spending by his administration and boasted about reducing the deficit by $1.7 trillion.
“I may note in parentheses: during my first two years I reduced my debt by $1.7 trillion. No president has ever done that,” Biden said recently.
However, the figure represents a reduction in the national deficit between fiscal year 2020 and 2022. The deficit has certainly decreased during that period. Although this is largely due to the emergency measures put in place during the COVID-19 pandemic. has ended
Transgender rights advocates attend rally outside the U.S. Supreme Court. (Getty Images)
Even though it increases the national debt, the NDAA is staunchly bipartisan. But some Democratic lawmakers oppose a ban on transgender medical care for children of military members. If such treatment is given, it may result in sterilization.
The bill also includes a 14.5% salary increase for junior military members. and a 4.5% increase for everyone else. To be the key to improving the quality of life of those serving in the military.
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The Defense Act also includes measures to strengthen deterrence against China. and calls for investments worth US$15.6 billion. To enhance military capabilities in the Indo-Pacific region The Biden administration has requested only about $10 billion.
Eric Revell and Morgan Phillips of Fox News and The Associated Press contributed to this report.
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