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Archive for October 10th, 2011

One of the most frequent siren songs of the radical Left is that if we just cut military spending, we would have more than enough money to balance our budget and pay for expansive, energy sapping social programs.

However, as shown in the chart below, the Budget Control Act already projects that non-OCO military spending as a % of GDP will fall to its lowest level since 1940, barely above the levels now spent by Japan and Germany after decades of demilitarization. So, even after we have military spending levels like Germany and Japan, our budget deficit is still on track to break 90% of GDP by 2021 — a point at which the deficit creates overwhelming drag on GDP growth.

Once we shut down Afghanistan & Iraq, there will be no more room for military cuts, and the budget will still be shot. Wealth we won’t be sharing, just pain…

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