Jump to Navigation
Home

Main menu

  • Home
  • News
  • Markets Map
  • Sentiments
  • Topics
  • Data
  • Comments
  • Images
  • Blog
  • About

Secondary menu

  • Latest News
  • Top Rated
  • Most Popular
  • Archive
  • Discussions
  • Red Hat Beats on Top & Bottom Line
  • Top 30 stocks that hit 52-wk low on the BSE Smallcap index
  • Aircel offers roaming services for Myanmar
  • Bernanke Kills Fed Credibility and the Confidence Fairy...
  • U.K. Details Libor Charges
  • Ex-Afghan official: We need talks
  • Norway opens Arctic border area to oil drilling
  • Bain plans high-yield bond for €650m French buyout
  • J.D. Power ranks hybrid as worst car for quality
  • 20/6/2013: Stalled Irish Banks Reforms: Sunday Times,...

    The Defense Budget and Political Will

    Tue, 01/26/2010 - 17:44 EDT - Mathew Yglesias
    • Comments
    • Defense Budget
    • Public Opinion
    • uncat

    Beyond the substantively mysterious nature of the decision to exempt “security” spending from a freeze, I wonder about the politics. Spencer Ackerman wrote earlier today about the defense spending conundrum:
    Now, if you read through Harrison’s paper, you’ll see it contains a key assumption. Because defense spending is so bloated, and the deficit so big and the economy so bad, then obviously defense spending has to drop, so it makes sense to reprioritize what’s actually in the national interest. But that assumes political will — both from Congress and from the Obama administration — that is absolutely not in evidence. And it also assumes countervailing political pressures — i.e., the desire not to be demagogued as weak on defense — that are in abundance will suddenly abate. So we’re left with … an unsustainable defense budget and spending freezes/cuts in for more politically vulnerable clients, like the poor and middle class.
    Part of what’s odd about this is that while cutting defense spending isn’t popular, as best I can tell it’s one of the least-unpopular items out there:
    spendingtable
    Defense, homeland security, and foreign operations are all less popular than virtually everything in the “non-security discretionary” budget. And among the things that we spend a non-trivial amount of money on, defense is by far the least popular.
    That’s not to say that politicians should blindly follow the public’s will. Cutting scientific research is a terrible idea, and the public’s desire to slash the State Department’s operational budget is bizarre. But as long as political stunts are happening, I don’t understand why public opinion doesn’t get more play.


    • Original article
    • Login or register to post comments
     

    Related

    • Obama Budget to Call for Freeze in Non-Security Discretionary Spending

      On an exciting phone call with progressive internet writers earlier this evening, a senior administration official outlined the Obama administration’s plan to call for a freeze in non-security discretionary spending spending starting with the Fiscal Year 2011 budget.

    • The defense budget should be frozen

      Spencer Ackerman explains the insanity of exempting the defense budget from the spending freeze.

    • Non-Security

      I don’t really want to write about undefined spending freezes all day, but the thing that sticks out like a sore thumb in what we know of this proposal is that the idea of a freeze on “non-security discretionary spending” reeks of politics rather than budgetary substance. There’s a real budgetary rationale for treating the spending and tax sides independently. And there’s also a real budgetary rationale for treating entitlements separately from discretionary issues, since the formal legislative process for these topics works differently.

    • What Will the Spending Freeze Amount To?

    • A budget freeze?

      Here I offer some thoughts on President Obama's new proposal.

    • Spending Freeze: Too Clintonesque

      The Baseline Scenario submits: By James Kwak

    • How Politically Feasible Are Defense Spending Cuts?

      A recent Economist/YouGov poll confirmed that while the public is furiously hostile to the budget deficit and furiously hostile to tax increases it’s also furiously hostile to all feasible methods of reducing the deficit by reducing spending.

    • The budget in boxes

      The New York Times had a wonderful budget graphic last week that did a nice job putting both the budget and the freeze into perspective. First, here's what our budget looks like, with each major category broken into its own box.

    • Taking the freeze seriously

      Jared Bernstein tries to sell the freeze:

    • Mr. Freeze

    Latest

    Liquidation Wave Sweeps Globe In Bernanke Aftermath
    Liquidation Wave Sweeps Globe In Bernanke...
    Opening Bell: 06.20.13
    Opening Bell: 06.20.13

    User login

    • Create new account
    • Request new password
    • Click on the icon to sign in with your social network login or enter your Bullfax.com login

    Our Blog

    • Oil Prices, India’s Inflation, Panama Canal and Bank Lending in Our News for Today 06/14/2013
    • SoftBank: Sprint to the finish
    • Royal Bank of Scotland, World Bank, European Stocks and Apple in Our Daily Round-Up for 06/13/2013

    Markets Map

    Markets Map

    Follow Us

    Follow Us on Facebook, Twitter, Google Plus and RSS LinkedIn Facebook Twitter Google Plus RSS
    S&P 500: 1628.93 -1.4% FTSE: 6203.73 -2.34% Nikk.: 13014.58 -1.77% DAX: 7993.36 -2.55% HSI: 20382.869 -2.96% FX: EUR/GBP: 1.1705 USD/EUR: 1.3199 JPY/USD: 97.965 Commodities: Gold: 1302.75

    Bullfax.com - Market News & Analysis 2008-2011
    Contact Us | About Us | Terms & Conditions

    Follow Us on Facebook, Twitter, Google Plus and RSS LinkedIn Facebook Twitter Google Plus RSS .

    Secondary menu

    • Latest News
    • Top Rated
    • Most Popular
    • Archive
    • Discussions