Pentagon Proposed Cuts

jp-PENTAGON-master180Sec. of Defense Chuck Hagel released the proposed military budget today bringing down the current war-footing of the U.S. military troop numbers to pre-WWII rates.

But at the heart here, and as this NYT article covers, is the fact that the military industrial complex is squealing as usual about any cuts whatsoever no matter how bad they are needed or how much they improve the U.S. fighting force.

Two links for further reading today:

The NYT article can be found here.

ikeAnd you can find Pres. Eisenhower’s Farewell Address regarding the Military Industrial Complex here.

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Economists’ surprising election-year request: Raise taxes, please! – CSMonitor.com

Economists’ surprising election-year request: Raise taxes, please! – CSMonitor.com.

Some interesting numbers to look at but a few things should be kept in mind.  The aggregate stats given are a bit deceptive, for instance this quote:

The survey found 90 percent of respondents supporting some blend of those two methods of reducing deficits (vaguely similar to Obama’s proposal), while Romney’s espousal of “revenue neutral” tax reform lines up most closely with the 9 percent of economists in the survey who called for “spending cuts only.”

Not all of that 90% are advocating the plans of Obama but it should be noted the majority of these experts are in favor of this road to economic stability.

The other factor that should be noted is the reality this is not a survey of either candidate’s exact plan for government spending.  For instance, it only mentions tax increases which implies a tax increase on everyone and not just the wealthy as Obama has pushed for.  In all likelihood, the numbers would be greater in favor of the Obama plan if that was accounted for since there is a majority call for more revenue through taxation and these experts would be fully aware of the myth of the “trickle down theory”.