June 12, 2024

New Faces, New Policies, New Administration

President Joe Biden was expected to quickly sign executive orders on the coronavirus, immigration, and climate following an inauguration completed under unprecedented security. Before inauguration Biden already had new faces in DoD, worried Wall Street, and ask for another DefSec waiver.

Call to Replenish Paycheck Protection Program Expected

An anticipated deal between Mnuchin and Schumer plus a call from the SBA to immediate replenish the Paycheck Protection Program, suggests Congress will get an interim COVID-19 interim relief funding bill passed this week addressing small business, hospitals, and state governments.

DoD Fails 2nd Audit – No Surprise

DoD Fails Audit

DoD’s second-ever financial audit shows some progress, but uncovers more new problems than fixes. DoD has 3 million employees, 4,500 defense sites in 160 countries, a $292 billion inventory, more than $2.9 trillion in total assets, and $2.8 trillion in liabilities.