http://www.economist.com/news/united-states/21572190-ships-lie-uselessly-anchor-and-lay-offs-loom-deep-congress-imposed-spending-cuts-look
We have the "sequester" upon us. The sequester is a set of budget cuts to the federal budget set to take effect on March 1st unless congress steps in. The cuts were made to be extensive so lawmakers would have to deem it necessary to come up with an alternative, but with Congress currently on break it does not seem as if anything is going to be done. If nothing is done it is projected that the defense budget will be cut by 8% and non-military programs by 5%, this is a substantial amount in both categories. The largest portions of the federal budget, social security, medicare, medicaid, military pay and service for veterans are exempt from spending cuts. It will be interesting to see what congress comes up with over the next few days and how/if the sequester will play out.
I think that the military budget is very high and with such a huge debt that we carry cuts aren't an awful idea. 8 percent may be a little high but I don't think a cut would be that bad of an idea but it is good to see the government trying to cut down on some spending and hopefully trying to get that debt down some.
ReplyDeleteI agree with you that the military budget is very high but see, I like that and I feel that there are many other Americans that are also very comfortable with the government spending tons on the military. The soldiers that join the military to fight and defend for our country are putting their lives on the line for us so I feel they deserve the best and most advanced equipment possible. I feel that a life greatly outweighs money so you might as well spend it to protect it. Also there are many other deficiencies within our budget that could (and should) be worked out but again congress seems to think that a break before the start of this sequester is the best way to get it fixed...
DeleteI completely agree. We have the strongest military out there and it is what keeps us safe here every day and we have that benefit unlike many other countries out there. It is very nice having the protection that we have from our military.
ReplyDeleteI agree with you guys too. After overspending on defense for decades such that the economic health of the nation is, according to this article, now dependent on continuing that level of spend, America at some point in time needs to admit that the defense budget has become unmanageable. The sequester is a good start to dealing with the painful adjustments needed to restore America to its former peak.
ReplyDeleteWe spend the largest amount on military defense than any other country. It would be nice to see that 8% cut go towards decreasing our debt, or use that 8% to decrease government taxes.
ReplyDelete