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Showing Original Post only (View all)Romney Will Increase Military Spending By $2.1 Trillion With No Plan To Pay For It [View all]
Source: ThinkProgress
Mitt Romney is campaigning for president on fiscal responsibility. The mission to restore America begins with getting our fiscal house in order, he says. At the same time, the presumptive GOP nominee says he wants to increase military spending. His campaign website claims that a President Romney will peg the Pentagons budget to Gross Domestic Product at a floor of 4 percent of GDP. What will that mean in dollars? CNNMoney reports that under Romneys plan, the additional spending really piles up in future years:
With the Pentagons base budget which does not include war costs forecast to hit 3.5% of GDP in 2013, a jump to 4% would mean an increase of around $100 billion dollars in defense spending in 2013. [...]
Compared to the Pentagons current budget, Romneys plan would lead to $2.1 trillion in additional spending over the next ten years, according to an analysis conducted for CNNMoney by Travis Sharp, a budget expert at the Center for a New American Security.
And that number assumes a gradual increase to 4% of GDP. The additional spending would hit $2.3 trillion over a decade if the Pentagons budget were to immediately jump to 4% of GDP.
Compared to the Pentagons current budget, Romneys plan would lead to $2.1 trillion in additional spending over the next ten years, according to an analysis conducted for CNNMoney by Travis Sharp, a budget expert at the Center for a New American Security.
And that number assumes a gradual increase to 4% of GDP. The additional spending would hit $2.3 trillion over a decade if the Pentagons budget were to immediately jump to 4% of GDP.
Read more: http://thinkprogress.org/security/2012/05/10/481764/romney-military-spending-2-trillion/
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Romney Will Increase Military Spending By $2.1 Trillion With No Plan To Pay For It [View all]
Galraedia
May 2012
OP
Oh, he has a plan. Cut every single safety net and leave our most vulnerable people in the street.
truthisfreedom
May 2012
#1
Well of course: they have no resources to steal & are ineffective at bullying others. No use to Mitt
Vidar
May 2012
#6
Perhaps prior to increasing spending, one might want to review procurement procedures
OmahaBlueDog
May 2012
#2
There's nothing quite like trying to turn the military against the people for political advantage.nt
patrice
May 2012
#8
It's not Etch-a-Sketch campaigning, it's ala carte menu sound bite campaigning.
tclambert
May 2012
#9
Classic. They can't help the economy with tax cuts alone: they have to pump money somewhere.
MatthewStLouis
May 2012
#14
Yes, he does have a plan to pay for it...but he won't tell you yet. He'll totally pay for it
Auntie Bush
May 2012
#21