Pentagon Spending and Jobs Study
Quotes from “Budgetary Savings from Military Restraint,” a policy paper by Cato Institute analysts Benjamin H. Friedman and Christopher Preble:
“Concern about deficits has prompted greater scrutiny of all federal spending. But the cuts here would be prudent even in an era of surpluses. The United States does not need to spend $700 billion a year—nearly half of global military spending—to preserve its security. By capitalizing on our geopolitical fortune, we can safely spend far less.”
“The United States does not have a defense budget. The adjective is wrong. Our military forces’ size now has little to do with the requirements of protecting Americans.”
“Our military budget should be sized to defend us. For this end, we do not need to spend $700 billion a year—or anything close.”
“Our global military activism wastes resources, drags us into others’ conflicts, provokes animosity, drives rivals to arm and encourages weapons proliferation. We can save great sums and improve national security by adopting a defense posture worthy of its name.”
Full paper available at: http://www.cato.org/pub_display.php?pub_id=12151
“To date, the United States has spent more than $2.5 trillion on the wars in Iraq and Afghanistan, the Pentagon spending spree that accompanied it and a battery of new homeland security measures instituted after Sept. 11.
"How have we paid for this? Entirely through borrowing. Spending on the wars and on added security at home has accounted for more than one-quarter of the total increase in U.S. government debt since 2001. And not only did we fail to pay as we went for the wars, the George W. Bush administration also successfully pushed to cut taxes in 2001 and again in 2003, which added further to the debt. This toxic combination of lower revenues and higher spending has brought the country to its current political stalemate…Even if we were to leave Afghanistan and Iraq tomorrow, our war debt would continue to rise for decades.”
(Nobel Winning Economist Joseph Stiglitz and Linda Bilmes)
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