From WSJopinion: The Defense Department’s flat-footed response to inflation will result in a real—and cumulative—pay cut for service members, write MEaglen and John Ferrari
on how to cope with inflation eating their paychecks. Army leaders suggested soldiers and their families consider going on food stamps or talk to an Army-provided financial adviser.
Pentagon leaders stuck to rosy inflation assumptions for far too long and against the advice of others. In ain May, Pentagon Comptroller Michael McCord and the service secretaries made clear that the Defense Department wasn’t tracking inflation’s effects in budget execution, forecasts weren’t being updated with new data, and no inflation adjustments were made to the president’s budget request.
With a request of $773 billion for next year, the PPI number would mean that the Pentagon’s assumptions are off by about $70 billion according to our math. Hardly a rounding error. The Pentagon did all this over the protestations of Congress. Knowing the Defense Department was misjudging inflation, all four defense committees on Capitol Hill were left to estimate their own inflation numbers. When Congress asked how it could help the military cope with inflation, Pentagon leaders said no financial help was needed.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Judge halts prosecutors from using Trump Mar-a-Lago materials for criminal investigationA judge blocked federal prosecutors from continuing their criminal investigation into former President Donald Trump's handling of documents until a special master is appointed and completed his or her work.
Read more »
How a group of artists is using poetry to help kids in southern DallasArt Inspired Healing Collective is a group of artists creating programs for students to teach them how to use art to learn more about themselves.
Read more »
Zelenskyy Accuses Russia of Using Zaporizhzhia Power Plant as 'Nuclear Weapon'One nonproliferation expert said 'there is a high risk that an accident like that of the Fukushima disaster in Japan could occur' if shelling continues at the Zaporizhzhia nuclear power plant in Ukraine.
Read more »
A New Shot at Using Fish OilIn a new push to figure out whether fish oil can help with conditions from heart disease to depression, scientists are digging deeper into its key nutrient: omega-3 fatty acids
Read more »
How to Encrypt a PDF Using Python | HackerNoonEncryption is a way of encoding human-readable data with encrypted code that enables the use of a password to view the source and data stored.
Read more »
Tesla Driver Seen Sleeping At The Wheel Using AutopilotTesla warns drivers to pay attention and be ready to take over at a moment's notice, so sleeping isn't acceptable. People like this are cause for concern.
Read more »