Posted: December 10th, 2012 by Militant Libertarian
Republicans are practically apoplectic over potential cuts in military spending that could possibly be triggered by the Budget Act of 2011 (BCA). Such fears are unfounded, without basis and the actual BCA cuts triggered by sequestration are in fact quite negligible and puny.
In August 2011, President Obama signed the Budget Control Act of 2011 (or BCA), which is the law that created the so-called “fiscal cliff” that, if Washington D.C. politicians such as President Obama are to be believed, threatens potential disaster for the U.S. economy.
The BCA combines income tax rate hikes on all Americans and government spending cuts that, unless the federal government acts otherwise, will go into effect in 2013. In that year, the fiscal cliff will lead to an estimated additional $536 billion in tax collections and $500 billion in federal government spending cuts.
Since half of the spending cuts associated with the fiscal cliff would affect the nation’s defense programs, those particular cuts have been a source of concern. What effect might these cuts have on the nation’s security?
The Mercatus Center’s Veronique de Rugy has charted out how the BCA’s mandated spending cuts will affect overall defense spending for the next ten years…
“As the chart shows, defense spending has almost doubled in the past decade in current dollar terms and will continue to grow in spite of automatic cuts set by the BCA. Clarifying these figures reveals that sequester cuts do not warrant the fears of policymakers who warn about “savage cuts” to the defense budget.”
It’s totally insane and fiscally irresponsible for Republicans to be waging such a ferocious battle against very modest military cuts at a time when America could really use some significant cuts in military spending.