HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Deficit cutters look to P...

Mon Nov 12, 2012, 11:40 AM

Deficit cutters look to Pentagon budget [View all]

Source: Associated Press


All sides are trying to come up with a deficit-cutting plan of $1.2 trillion over 10 years. Any solution that might emerge from the high-stakes negotiations before the Jan. 2 deadline likely would include some reductions in the military budget, which has nearly doubled in the last decade to half a trillion dollars. That amount doesn't include the hundreds of billions of dollars spent on the wars in Iraq and Afghanistan.


"It is a big piggybank," said former Wyoming Sen. Alan Simpson, a Republican who along with Democrat Erskine Bowles had recommended $4 trillion in budget cuts over a decade, including deep reductions in defense, as part of a special presidential commission in December 2010.

"If you can't get in there and start getting stuff out of there when you have a defense budget of $740 billion bucks and the defense budget of every major country on earth, 17 of them, including Russia and China, is $540 billion combined. Who is joshing who," said Simpson. "That's madness, madness."

One possible starting point is the recommendation of Senate Armed Services Committee Chairman Carl Levin, D-Mich., who indicated earlier this year that he would be willing to accept additional defense cuts of $10 billion a year as part of any solution to avoid the across-the-board cuts.

Read more: http://news.yahoo.com/deficit-cutters-look-pentagon-budget-084524659--politics.html

26 replies, 4603 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 26 replies Author Time Post
Reply Deficit cutters look to Pentagon budget [View all]
Live and Learn Nov 2012 OP
SoapBox Nov 2012 #1
Waltons_Mtn Nov 2012 #12
Drale Nov 2012 #2
OnlinePoker Nov 2012 #20
Drale Nov 2012 #21
Angleae Nov 2012 #24
jschurchin Nov 2012 #3
heaven05 Nov 2012 #4
Gregorian Nov 2012 #5
RC Nov 2012 #6
Myrina Nov 2012 #13
ChazII Nov 2012 #7
on point Nov 2012 #8
xtraxritical Nov 2012 #9
Bainbridge Bear Nov 2012 #10
xtraxritical Nov 2012 #26
Gumboot Nov 2012 #11
msongs Nov 2012 #14
Live and Learn Nov 2012 #16
DCKit Nov 2012 #18
AlexSatan Nov 2012 #25
DJ13 Nov 2012 #15
AntiFascist Nov 2012 #23
bl968 Nov 2012 #17
colsohlibgal Nov 2012 #19
Scuba Nov 2012 #22