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Senate Republicans and Democrats vote to slosh around still more on defense spending.

The Military Times reports Senate panel OKs plans for $852 billion in defense spending next year

Senate appropriators advanced plans for roughly $852 billion in defense funding next fiscal year, a significant boost over White House goals and House lawmakers’ outlines for military spending in 2026.

The appropriations measure advanced out of the Senate Appropriations Committee by a bipartisan 26-3 vote, with both Republican and Democratic leaders praising the plan as meeting the emerging needs of the armed forces.

The bill includes plans for a 3.8% pay raise for troops next January and an increase in overall military end strength in 2026, similar to plans adopted by House lawmakers earlier in July.

But the measure also includes a 2% increase in base defense spending next fiscal year, about $20 billion above House approved spending levels and the White House’s request for defense spending.

The White House for months has advocated for a generally flat defense budget next year coupled with about $150 billion in one-time defense spending approved in a budget reconciliation measure earlier this summer.

So much for weeding out waste, fraud and abuse.

The defense department has the largest discretionary budget, a record of large cost overruns, and an inability to pass an audit for seven years.

So let’s just give them a lot more money, even more than they asked for.

Gold Soars to Another New High, What’s the Message?

On May 6, 2025, I commented Gold Soars to Another New High, What’s the Message?

Three Messages

1. Gold does not believe the Fed is under control
2. Gold does not believe Congress is under control
3. Gold does not believe Trump is under control

And neither do I.

Think!

If you think the Fed will stop monetizing the debt, then think again.

If you think either Congress will do anything about soaring deficits, then think again.

If you think DOGE will do anything about soaring deficits, then think again.

If you think Trump will do anything about soaring deficits, then think again.

If you think tariffs will offset spending that Trump demands and Congress will deliver, then think again.

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