STOCK MARKET WATCH -- Monday, 21 May 2012

[Demeter]

45. House approves East Coast missile shield site in $643 billion defense bill

http://thehill.com/blogs/defcon-hill/policy-and-strategy/228335-house-approves-missile-defense-system-for-east-coast-in-sweeping-defense-bill

The House on Friday approved a sweeping defense authorization bill for 2013 that calls for the construction of an East Coast missile defense system in the United States by the end of 2015. The bill obligates $100 million next year to plan for the site, but the project would cost billions of dollars in later years that has yet to be funded.

The language was derided by a House Democrat as an "East Coast Star Wars fantasy base" but nonetheless escaped further scrutiny during floor debate Wednesday and Thursday on amendments to the National Defense Authorization Act (NDAA).

Friday afternoon, members approved the bill in a 299-120 vote after approving dozens of amendments, some after fierce debate that revealed disagreements on issues such as detainee policy, nuclear cooperation with Russia and the speed of the U.S. military withdrawal from Afghanistan. Seventy-seven Democrats support the bill, while 16 Republicans opposed it...

DOESN'T THAT MAKE YOU FEEL ALL WARM AND SAFE AND TOASTY, PO?