“Preventing future acts of international terrorism” is the most critical foreign-policy goal for Americans, according to Gallup. Next priorities: proliferation of nuclear weapons, energy supply, favorable trade policies, etc.
Fighting off Soviet tanks rumbling towards Frankfurt didn’t make the list. Yet Congress, in its infinite wisdom, is still pushing weapon systems designed to do just that, whether the Pentagon wants them or not.
Based on this laudable principle, the US plowed $689 billion into defense in 2011, more than the next 16 biggest military spenders combined, and 40% of total worldwide military spending. Number two China spent $129 billion, number three Russia a measly $64 billion.
Defense industry lobbying in the US greased the wheels with $129 million last year—for what must be enormous returns on investment.
Hence the deafening squealing about the looming automatic spending cuts on the defense side. They would account for about half of the $1.2 trillion in cuts spread over a decade. The first $46 billion would get snipped this year. Brutal? The Congressional Budget Office estimated that defense spending would still grow by 2.4% annually over the decade. It would just grow less rapidly.
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