Defense contractors are trying to frighten Americans into believing that Pentagon budget cuts will destroy the economy. Lawrence J. Korb, Alex Rothman, and Max Hoffman say that's bogus.
Since 1998, U.S. military spending has grown exponentially, reaching 20 percent of overall federal spending and more than half of discretionary spending-levels not seen since the end of World War II. In particular, the portion of the budget used to purchase equipment from private industry has doubled over the last 14 years, growing from about $100 billion in 1998 to nearly $200 billion today.
The above excerpt was originally published in Foreign Policy. Click here to view the full article.
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Lawrence J. Korb
Former Senior Director