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IPFS News Link • Obama Administration

New Economy Transformation: Obama Budget Won't Help

• By Miriam Pemberton
 The last decade’s surge in military spending has pushed military contracting deeper into the foundations of our economy. Reversing this process, and transferring the savings to support the green economy, are necessary components of the project to build the new economic foundation we need.

Here is a quick take on how little the President’s budget request, released this week, is going to help.

First a few bright spots. This budget is a milestone of sorts. For the first time, it offers less money to the military next year than we are spending this year. This is not the way the term “spending cut” tends to be defined in Washington-speak. Mostly “cuts” are made to last year’s expansive projections of the future. As in: the doubling of my salary that I projected last year didn’t happen, therefore I took a salary cut. All those military spending cuts referred to in previous years have been that kind.

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