Defense spending faces $700 billion cut

[jefferson_dem]

Defense spending faces $700 billion cut
By John T. Bennett - 07/07/11 05:35 AM ET

National security spending could be cut by as much as $700 billion in a deal to raise the debt limit, defense sources said.

That’s almost twice the amount President Obama originally proposed.

Obama directed the Defense Department and other national-security agencies to slash $400 billion by 2023. But in the closed-door talks to raise the debt ceiling, larger Pentagon funding cuts have been seriously discussed, several sources said, putting the number between $600 billion and $700 billion over a decade.

A final decision has yet to be made, but the sources said negotiators have not ruled out making deeper cuts than Obama planned.

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http://thehill.com/news-by-subject/defense-homeland-security/170057-defense-faces-700b-spending-cut

[MannyGoldstein]

1. And $4 trillion is being stolen from the Social Security Trust Fund

Holy fuck.

[bornskeptic]

3. That's quite a trick since the SS Trust Fund only has $2.5 trillion in it.

It must be being done quite covertly, since SS isn't even being discussed right now except by you.

[MannyGoldstein]

6. Growing to $4 trillion + in the next decade

According to all projections.

I'm flattered that you feel that I'm the most important source for news, but the White House, the NY Times, AARP, and just about everyone else of any repute is talking about the coming cuts as well.

[BeyondGeography]

2. The Pubs think they can turn around and tell nutjob nation Obama has weakened America

Meantime:

"In inflation-adjusted dollars, the total defense budget has grown from $432 billion in FY01 to $720 billion in FY11, a real increase of approximately 67 percent,” according to the Center for Arms Control and Non-Proliferation. “The Pentagon’s base budget ... has also grown steadily over the last decade, increasing from $390 billion in FY01 to $540 billion in FY11, a real increase of 38 percent.”

Most people will get it.

[msongs]

4. cut 700 bill from the military every year. would be nice lol nt

[alc]

5. too bad it's over 10 years

we spend that much EVERY YEAR. We should be able cut more than $70 billion/year. My guess is a lot of the cuts come later in the decade. So we can still run who knows how many wars now and do drone and missile attacks wherever we want for the next few years. Then a different Congress can decide that it's not a good idea to do the military cuts and we don't even see the $700 billion.

[Sherman A1]

7. Good

Cut More.

[WI_DEM]

8. Good, and it could be cut by more than that if they wanted to.