21st Century Wire says…
This represents a disastrous misappropriation of the public-purse, stemming back to the bank bailouts provided by the U.S. Federal Reserve bank.
Attempting to stem a $1.5 Quadrillion pit of toxic financial assets, known as derivatives, with $12.8 Trillion under the Troubled Asset Relief Program (TARP) was a mathematical problem that was never going to add up. More importantly, it was a catastrophic waste of $12.8T which would have been better spent funding, among other things, technological developments for the 21st Century.
Much technology which starts its life in the military realm eventually finds its way into public life in one form or another. But, how are we ever going to make further technological advancements for the benefit of us all, which can also insure the U.S. remains a superpower, if funds are continually misappropriated to this degree?
Pentagon: US may lose high-tech military superiority to China, Russia
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RT News
The Pentagon has expressed deep concern about the US eventually losing its military technological superiority over rivals such as China and Russia, and is urging NATO states to develop innovative weapons in close cooperation to optimize military spending.
“I am very concerned about the increasing risk of loss of US military technological superiority,” Pentagon arms buyer Frank Kendall told a House Armed Services Committee hearing. “We’re at risk and the situation is getting worse,” he warned, specifying that his concerns lay with the heavy investments into weapons design being done by China and Russia.
Kendall noted that development of aircraft carriers and satellite technologies by China and Russia was targeting “critical” US military capabilities, Reuters reported.
In a separate hearing at the House Armed Services Committee, US Deputy Defense Secretary Robert Work announced Wednesday that “bold action” was needed to keep the US’s lead in technology as China, Russia and other countries are rapidly developing weapon systems of their own…
Continue reading this story on RT.com
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