U.S. MILITARY FAILS TO GET FUNDS FOR A NEEDED BOOST

Grumpy Editor notes a Wall Street Journal piece focusing on “America’s Declining Military.”

In citing the Pentagon is seeking $773 billion for fiscal 2023, the Journal points out, "the 298-ship Navy would buy only nine ships next year while retiring 24.  The fleet would shrink to 280 ships in 2027, even as the Navy says it needs a fleet of 500 to defeat China in a conflict.

As for the Army, the Journal mentions it is seeking $177.5 billion, "barely up from $174.7 billion last year and a cut after inflation,” adding end strength would fall to 473,000 from the 485,000 authorized last year. The Army shrugs because it hasn’t been able to fill all its spots in a hot labor market.  This may relieve a recruiting headache for some general, but it won’t reduce the threats the Army may have to address in multiple theaters."

Turning to the Air Force, the Journal says it "is now the smallest, oldest and least ready it has ever been in its 75-year history...but the Pentagon plans to cut its buy of F-35 fighter jets this year." 

 
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
 
NUMBER OF MEDIA WORKERS DECLINES.  There were 39,080 news analysts, reporters and journalists employed in the U.S. in May, 2021. This is down from 41,580 in the prior May and 44,100 in May, 2019, with average annual wage of $63,230 in May 2021, down from $66,000 the year prior.    
 
MORTGAGE LOAN RATE RISES.  Mortgage giant Freddie Mac says average rate for a 30-year fixed rate mortgage loan rises to 4.67 percent, highest since December, 2018.
 
SANCTIONS ON RUSSIA HIT SEAFOOD.  New rounds of economic sanctions on Russia make key seafood species such  as cod and crab harder to come by, along with alcohol and diamonds.  
 
NIELSEN BEING ACQUIRED.  Nielsen, the New York-based media measurement company with annual global revenue of about $3.5 million, is being acquired for $16 billion, including debt.  Data collected by Nielsen is a major factor in determining where billions in advertising dollars are spent each year.
 
L.A. BANS NEW OIL WELLS.  The Los Angeles City Council votes unanimously to ban new oil wells and phase out existing ones, a move leaders in the nation's second-most populous city call essential for health reasons.  A city commission will study how to phase out more than 5,200 existing oil and gas wells.
 
BLACK NEWS CHANNEL CLOSES.  The Black News Channel, first all-day news network aimed at African Americans, closes a little more than two years after it went live.
 
COIN MYSTERY.  Quarters, nickels, dimes and pennies are in short supply again.  While some will call it the great coin shortage of 2022, America is facing a coin circulation problem.

 


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