![]() In an address to the UN Security Council on Ukraine aid on June 29, 2023, Max Blumenthal added fuel to those allegations. Bloated military spending is not the answer… We can’t continue to sign a blank check to price-gouging defense contractors while Americans struggle here at home.” It means ensuring access to quality, affordable healthcare and education, strengthening our economy with good-paying jobs, and giving Americans the tools they need to pursue the American Dream. Khanna concludes, “Keeping America strong starts at home. TransDigm, another contractor responsible for supplying spare parts for the military, was found to be charging the Pentagon more than four times the market price for their products. ![]() Lockheed Martin, for example, has used its monopoly on F-35 fighter jets to profit from maintenance that only they can provide, with the work needed to support and upgrade existing jets projected to cost taxpayers over $1.3 trillion. For decades, he writes, legacy military contractors have charged the federal government exorbitant sums for everything from fighter jets to basic hardware. Ro Khanna (D-Calf.), who cast the sole dissenting vote on the recent $886 billion defense budget in the House Armed Services Committee, has detailed some of the Pentagon’s excesses. Omitted was any mention of trimming the defense budget, which currently accounts for more than half of the federal government’s discretionary spending and nearly two-thirds of its contract spending. Anything less will prove fiscally unsustainable. Democrats must recognize that changes to Social Security and Medicare, the major drivers of expected federal spending growth, should be on the table. After the deal, it projected the total at $45.2 trillion, only slightly less-and still equal to 115% of the nation’s annual economic output, the highest level on record.Īcknowledging that the legislation achieved little, House Speaker Kevin McCarthy said after the vote that he intended to form a bipartisan commission “so we can find the waste and we can make the real decisions to really take care of this debt.” The NYT Editorial Board concluded:Īny substantive deal will eventually require a combination of increased revenue and reduced spending… Both parties will have to compromise: Republicans must accept the necessity of collecting what the government is owed and of imposing taxes on the wealthy. Before the deal, the CBO projected the federal debt would reach roughly $46.7 trillion in 2033. The debt ceiling compromise did little to alleviate that situation. By 2033, says the CBO, interest payments will reach a sum equal to 3.6% of the nation’s economic output. In 2029, net interest on the debt is projected to total $1.07 trillion, while defense spending is projected at $1.04 trillion. By 2029, just the interest on the debt is projected to exceed the national defense budget, which currently eats up over half of the federal discretionary budget. Titled “ America Is Living on Borrowed Money,” the editorial observes that over the next decade, according to the Congressional Budget Office (CBO), annual federal budget deficits will average around $2 trillion per year. While we have not verified the apps ourselves yet, our users have suggested 4 different CBO openers which you will find listed below.“Rather than collecting taxes from the wealthy,” wrote The New York Times Editorial Board in a July 7 opinion piece, “the government is paying the wealthy to borrow their money.” Important: Different programs may use files with the CBO file extension for different purposes, so unless you are sure which format your CBO file is, you may need to try a few different programs. We are continually working on adding more file type descriptions to the site, so if you have information about CBO files that you think will help others, please use the Update Info link below to submit it to us - we'd love to hear from you! How to open CBO files While we do not yet describe the CBO file format and its common uses, we do know which programs are known to open these files, as we receive dozens of suggestions from users like yourself every day about specific file types and which programs they use to open them. However, different programs may use the CBO file type for different types of data. ![]() The CBO file extension indicates to your device which app can open the file. ![]()
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