August 2, 2012

SEQUESTRATION IS ONLY A START:

Defense cuts won't hurt that much (Lawrence J. Korb, 8/02/12, CNNMoney)

If automatic reductions in defense spending go into effect, the fiscal year 2013 base (or non-war) budget will be reduced by $55 billion to $500 billion and remain at that level in real terms for the next decade. This will result in a total reduction of $500 billion over a decade from projected levels of defense spending.

But it also means the Pentagon will still be spending more in 2013 after sequestration than it did in 2006, at the height of the Iraq war, and more than we spent on average at the end of the Cold War and during the first Gulf war.

Moreover, the United States will still account for 40% of the world's military expenditures -- 70% if you combine that with what our allies spend.

These cuts come after 13 straight years of defense increases, which brought defense spending to levels not seen since World War II.

Are those hyperventilating about sequestration really claiming that we wouldn't be able to provide for national security?

Posted by at August 2, 2012 5:16 AM
  

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