Sullivan backs Trump’s 40 percent military increase, with no taxes to pay for it

What we haven’t heard from Sullivan, a charter member of the Senate DOGE Caucus, is what taxes he supports to pay for the largest military budget in U.S. history, which features an increase of more than 40 percent. Trump introduced the proposal Friday.

The Trump plan endorsed by Sullivan would add $7 trillion to the national debt by 2036, according to this analysis by the Committee for a Responsible Federal Budget.

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Dermot Cole Comments
The Permanent Fund at 50

All the expectations for the Permanent Fund were based on conditions that prevailed before the 1979 Iranian revolution when Ayatollah Khomeini became the first supreme leader. Oil prices rose by 250 percent from 1978-1980, changing every calculation about Alaska’s finances and the vision for the Permanent Fund.

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Republican legislators wanted to ban stock market investments by the Permanent Fund

The biggest argument 50 years ago about creating the Permanent Fund concerned a plan by House Republicans to ban the fund from investing in the stock market.

The stock market decline in 1973-74 of nearly 50 percent, triggered in part by the OPEC oil embargo, was the worst since the Great Depression. The GOP wanted to ban any investment without a guaranteed return. The idea would have cost tens of billions over time.

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