INFLATION IS THE THIEF OF BUYING POWER: Last year, members of the House and Senate Armed Services Committees congratulated themselves for the bipartisan agreement to add upwards of $35 billion to the defense budget originally submitted by the Biden Pentagon.

But since then, inflation has raged, and by the time the Pentagon gets the extra money, it won’t be worth nearly as much, argues retired Maj. Gen. Arnold Punaro, a former Senate Armed Services Committee staff director and current board chairman for the National Defense Industrial Association.

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