November 8, 2013

WHAT SHALL WE DO WITH THE SURPLUS:

Shift on Defense Gives GOP Budget Leverage (PATRICK O'CONNOR, Nov. 7, 2013, WSJ)

As Congress girds for its next budget battle, the willingness of rank-and-file Republicans to cut the once-sacrosanct Pentagon budget is bolstering the negotiation position of GOP leaders.

Democrats in past years might have banked on the GOP to make concessions, such as agreeing to higher tax revenues or smaller cuts elsewhere in the budget, in order to protect military spending. But GOP leaders now are feeling less pressure to protect the Pentagon, which is due to take an additional $20 billion in cuts early next year under a set of spending reductions known as the sequester.

"There should be no illusion that the Department of Defense is immune from wasteful spending, fraud and mismanagement that costs taxpayer millions and billions of dollars," Sen. Charles Grassley (R., Iowa) said at a hearing last week to open formal budget talks between the House and Senate.

Posted by at November 8, 2013 5:15 PM
  

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