What is remarkable about this budget is that military spending is largely spared, showing once again the power of America’s military-industrial complex about which President Dwight Eisenhower warned the republic six decades ago. More guns, less butter.
The Pentagon may face cuts of $350-400 billion over a decade. But that’s peanuts compared to the Pentagon’s budget which is now near $900 billion annually when all war costs and veteran’s benefits are accounted for.
The US military and intelligence budgets doubled after the 9/11 attacks. President George W. Bush added $6.1 trillion to the US debt, an amount equal to the combined total increases to the national debt by all administrations from that of Jimmy Carter to Barack Obama.
Bush’s wars were waged on credit – that is, Americans were never asked to pay the true cost of these wars through higher taxes.
The US is now "fiscally hollow," warns respected senior American strategist and diplomat Charles Freeman, who asserts the entire US military budget is financed by money borrowed from China and Japan. He warns the US is entering a long-term military rivalry with China that Beijing can easily bear but that may prove "fiscally ruinous for us."
Few in Washington dare admit that the US can no longer afford "full spectrum global dominance." The federal budget can only be balanced by cutting in half the gargantuan US military budget which amounts to an amazing 45% or so of world military spending. Add Washington’s rich allies, and the figure rises to 80%.USA: Time for Debt Rehab
Wednesday, August 10, 2011
Super Congress: Easy Prey for the Military-Industrial Complex
Posted by Nick
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I kind of thought of Ron Paul when I heard about the Super Congress/Super Committee, or whatever they're calling it. I thought Paul would have been perfect for one of those seats, since whoever is on it will be unpopular, and he's retiring from the house after this term.ReplyDelete