The United States Just Witnessed Its Biggest Fall In Defense Spending In 40 Years But No One Is Talking About It
January 30, 2013
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The 22 percent fall in defense spending last quarter was the biggest since 1972, following the Vietnam War.
Based on context (and common sense?) I have to assume that this number is annualized. If this is true…. isn’t this kinda shocking, and incredibly good news?
I should probably make myself more familiar with these data series. How does this compare to what is set to automatically be cut?
If I’m not completely misinterpreting this, we’re doing 1946 writ small. Pull resources out of bombing people, and put them to work improving people’s lives, even though GDP might not show it.
Why aren’t libertarians reporting on this? Because they would look like Obama apologists?