Month: June 2020

The Cost of Replacing Today’s Naval Aviation Fleets | Congressional Budget Office

We need to reimagine the DOD. It is horribly bloated, and does not have accounting methods that are understandable.

On June 27, 2020, R. Derek Trunkey, David Arthur, Edward G. Keating, and John Kerman (of CBO’s National Security Division) presented at the Annual Conference of the Western Economic Association International.

Source: The Cost of Replacing Today’s Naval Aviation Fleets | Congressional Budget Office

H.R. 5736, Transnational White Supremacist Extremism Review Act | Congressional Budget Office

H.R. 5736 would direct the Department of Homeland Security (DHS) to create a threat assessment and reference aid regarding threats to the United States that are associated with foreign white supremacist organizations. DHS would share the information with state, local, and tribal officials and certain online platforms.

As ordered reported by the House Committee on Homeland Security on February 12, 2020

Source: H.R. 5736, Transnational White Supremacist Extremism Review Act | Congressional Budget Office

‘Goliath Is Winning’: The Biggest U.S. Banks Are Set to Automate Away 200,000 Jobs

Banks had already realized they could do just as much business with less tellers, as consumers learned how to deposit checks with their smartphones, and bank by phone.

As a result of curtailed spending by consumers, banks now hold several trillion dollars more than they did before the pandemic.

It’s good to be a bank.

Over the next decade, U.S. banks, which are investing $150 billion in technology annually, will use automation to eliminate 200,000 jobs, thus facilitating “the greatest transfer from labor to capital” in the industry’s history. The call is coming from inside the house this time, too—both the projection and the quote come from a recent Wells Fargo report, whose lead author, Mike Mayo, told the Financial Times that he expects the industry to shed 10 percent of all of its jobs.

Source: ‘Goliath Is Winning’: The Biggest U.S. Banks Are Set to Automate Away 200,000 Jobs