Defense spending creates American jobs!Mitt Romneys Military Budget Hypocrisy
Romneys pledge to increase military spending by 4 percent of GDP would add at least $2 trillion to federal spending over 10 years. That invalidates every specific cut he has proposedand the math doesnt begin to add up.
This week, Mitt reiterated one of his most expensive and longstanding political pandersa commitment to increase military spending to 4 percent of GDPadding at least $2 trillion to federal spending over 10 years.
The audacity of the etch-a-sketch meant that this specific budget-busting promise was so big that it almost went unchallengedand certainly it hasnt yet reached the level of mainstream, Main Street debate.
It single-handedly invalidates every specific cut he has proposedwhich essentially consists of social conservative low-hanging fruit like eliminating Title X Family Planning Funding($300 million), reducing foreign aid ($100 million), privatizing Amtrak ($1.6 billion) and reducing Subsidies For the National Endowments for the Arts And Humanities, The Corporation for Public Broadcasting, And the Legal Services Corporation ($600 Million). And of course, we cant forget the pricetag placed by the Romney campaign on the not yet fully-implemented Obamacare ($95 billion). You do the math.
Even if you believe Mitt on the magically paid for, completely painless $5 trillion tax cut, adding in this specific commitment to spend more than ever before on our military puts us on the path to further future deficits.
The libertarian Cato Institutes Benjamin Friedman expressed more pointed skepticism:I dont view it as a serious policy proposal. It seems like more of a talking point. What Obama said in the debate is trueit would add about $2 trillion in spending over a decade, Friedman said.Its totally unclear where he would get the money to do this [and] Romney is not going to articulate exactly what he would do to get there, because it would almost certainly be wildly unpopular.
Maybe there is some cynical sleight of hand that makes all this impossible math worklike letting the Bush tax cuts expire on December 31st and then making the Romney tax cuts begin from that new higher baseline, while simultaneously saving the country from the largest tax cut in history (cue the conquering hero trumpets).
But it has been surreal to see the allegedly fiscal conservative candidate beat up the Democrat for proposing spending cuts. Romney is running instead as a $2 trillion big government Keynesian when it comes to the military industrial complex while proposing comparatively small but devastating cuts to social programs as a sign of what a tough fiscal disciplinarian hes going to be. Its absurd.
Obama's glut of entitlement spending creates increased drug sales, and drug cartel jobs for Mexicans.