Panetta: Defense Budget Cuts Will Damage Economy
Source: Associated Press
By LOLITA C. BALDOR
Associated Press
Wednesday, Feb. 06, 2013
WASHINGTON Defense Secretary Leon Panetta is laying out a grim list of spending cuts the Pentagon will have to make in the coming weeks that he says will seriously damage the country's economy and degrade the military's ability to respond to a crisis.
He is slamming members of Congress as irresponsible and willing to push the country off a fiscal cliff to damage their opposing political parties.
He says if Congress doesn't pass a budget the Pentagon must absorb $46 billion in spending reductions in this fiscal year and will face a $35 billion shortfall in operating expenses.
Read more here: http://www.charlotteobserver.com/2013/02/06/3836997/panetta-defense-budget-cuts-will.html#storylink=cpy
Read more: http://www.charlotteobserver.com/2013/02/06/3836997/panetta-defense-budget-cuts-will.html
Hard Assets
(274 posts)And in the meantime, Department of Defense should get 1% of the total budget until the audit is complete.
Contractors can find work elsewhere.
Troopers can be sent home.
DisgustipatedinCA
(12,530 posts)I'd let the sequester go into effect today if I had the power to do so.
Arctic Dave
(13,812 posts)Because of your obscene budgets we are in the mess we are in.
Now go fuck yourself Leon.
A Simple Game
(9,214 posts)How about we stop sending money overseas?
Let's close bases in Japan, Germany, South Korea, and many more. We can stop supporting those countries' economies, bring the troops home and let them spend their wages in this country not abroad. That will save us money and boost our economy, not damage it. We don't need to cut troops immediately, we can do it through attrition.
TwilightGardener
(46,416 posts)we're actually moving more resources there, from what I understand.
TheCowsCameHome
(40,168 posts)Do like the rest of the real world does.
Solly Mack
(90,769 posts)DJ13
(23,671 posts)Tough choice 'eh Leon?
Angry Dragon
(36,693 posts)Kablooie
(18,634 posts)who's income is dependent on military funding.
Defense cuts will not only affect the military but millions of jobs in the private sector.
These certainly need to be cut back, there shouldn't be that many people depending on military money, but if it is not scaled back in a reasonable way over time a lot of Americans will suddenly be out of work and that won't be good for anyone.
I think about this because my dad was an electronics engineer and most of his company's money came from the military for electronics that were put into target practice missiles. He tried to expand into non military areas such as theft detection devices but the military contracts were the only thing that reliably paid the bills.
dipsydoodle
(42,239 posts)Goodbye to contractors which isn't necessarliy bad.
LeftinOH
(5,354 posts)there would still be quite a few left over to pick up the slack-
Orrex
(63,215 posts)God knows we need a fleet of quarter-billion dollar aircraft now more than ever!
Purveyor
(29,876 posts)arcane1
(38,613 posts)DCBob
(24,689 posts)The sequester cuts will no doubt have a major negative impact on our economy. Thousands of companies and millions of jobs are directly or indirectly tied to the Pentagon budget. This will affect everyone eventually. No one should be hoping for this to happen. The Pentagon seriously needs to have its budget reduced but not in such drastic abrupt way like this... imo.
gussmith
(280 posts)DCBob, of course there will be pain. We have a faulty economy built on war; the rest of the world needs to share the burden of defense. We can't continue spending so that local economies and states have income to the detriment of so many other of our country's demands for dollars. Rebuild infrastructure and cities now.
TwilightGardener
(46,416 posts)and drastically is not a good idea. It will be messy if it happens, and nobody's going to like it.
gussmith
(280 posts)Money spent for the Defense Dept. contains so much waste. As a small example, I've seen recruiting offices in summer, Arizona, with the doors propped open because the a/c was too cold!! Put that Defense money to work fixing the country; it is alright with me if the jobs transfer with the money but stop the waste with troops sitting in Germany and other cushy assignments.
Roland99
(53,342 posts)Arkana
(24,347 posts)Say what you want about Hagel, but at least he realizes that it's time for a post-Cold War defense budget.
Myrina
(12,296 posts)... to work on infrastructure projects instead of building military shit we already have 1,000 of and don't use anymore. Contract them to hire local folk to build roads, bridges, schools, to expand communications corridors and high-speed rail, to plant trees and grass and work on greening the economy.
It can be done. It SHOULD be done.
JDPriestly
(57,936 posts)I think that the Republicans are about to find out what happens when our government doesn't spend money.
It's going to hurt --- bad.
Bring the jobs back home.
Mutatis Mutandis
(90 posts)Purveyor
(29,876 posts)Crepuscular
(1,057 posts)Cut defense by 20% and put the funding into the Presidents high speed rail plan and other infrastructure improvements and you won't see a negative economic impact.
Dont call me Shirley
(10,998 posts)TURN YOUR WEAPONS INTO WINDMILLS AND SOLAR PANELS!
ENOUGH WITH YOUR STUPID WARS!
indepat
(20,899 posts)will hurt the economy, but the fact that many elders, the frail, and the poor will not get to eat, nor take their meds, nor heat their pads, nor have access to medical care will hurt no one and is good for America, continues the sick reich-wing meme that many Dems buy into.