Home > Economy > Where to Find a Trillon Dollars | tpmcafe

Where to Find a Trillon Dollars | tpmcafe

In all, the Obama administration’s freeze on non-security-related discretionary spending would result in $400 billion in reductions over the next five years. These cuts will be painful, and they will be felt in every middle- and lower-income household in America.

By contrast, the Pentagon will barely be touched. In fact, the $553 billion proposal for the agency’s base budget announced by the Obama administration today is a 4% increase from current levels. And the highly touted $78 billion in Pentagon “cuts” Secretary of Defense Robert Gates has called for over the next five years are essentially a slowing in the rate of growth of Pentagon spending. As Christopher Preble of the Cato Institute has suggested, only in Washington, DC can a spending increase be described as a “cut.”

Read more here: Where to Find a Trillon Dollars | tpmcafe.

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