US military introducing measures to attempt to ease economic strain on service families
CNN
As the holiday season approaches and everyday prices for food, fuel and housing are rising, the US military is trying to ease the economic strain on service members by increasing the housing allowance in high-price areas and expanding financial education, according to a memo from Defense Secretary Lloyd Austin.
The move comes as the steepest rise in inflation in decades has pushed prices of essential goods higher, burdening military families who must already cope with the challenges of moves, deployments, and the ongoing Covid-19 pandemic. Austin is set to unveil the package at a press conference Wednesday.
"The Department will provide immediate relief to alleviate economic insecurity," wrote Austin in the memo obtained by CNN, which he said stems from "food insecurity, extended wait times for housing, drastically reduced housing inventories, and sudden, sharp increases in rental or purchase costs for housing."
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