We are going into hock to pay for a military - Axe
Projected Defense spending for FY2012, if ALL "defense related expenditures" were factored in (not just the DOD budget), the cost:
DOD spending $707.5 billion
FBI counter-terrorism $2.7 billion At least one-third FBI budget.
International Affairs $5.6â"$63.0 billion At minimum, foreign arms sales. At most, entire State budget
Energy Department, defense-related $21.8 billion
Veterans Affairs $70.0 billion
Homeland Security $46.9 billion
NASA, satellites $3.5â"$8.7 billion 20% to 50% of NASA's total budget
Veterans pensions $54.6 billion
Other defense-related mandatory spending $8.2 billion
Interest on debt incurred in past wars $109.1â"$431.5 billion Between 23% and 91% of total interest
Total Defense Related Spending $1.030â"$1.415 trillion
en.wikipedia.org
Mandatory spending for 2012:
Social Security $761 billion
Medicare $485 billion
Medicaid and SCHIP $269 billion
Unemployment/Welfare/Other mandatory spending $612 billion
Interest on National Debt $242 billion
Troubled Asset Relief Program $13.0 billion
Total $2.382 trillion
NOTICE there is a gigantic discrepancy regarding the interest on the national debt. If the Federal government only plans on spending $242b on debt this year, it's obvious the defense share won't be $435b. If I take interest completely out, assuming a fair percentage share:
Defense Spending 2012: $.921T-$.984T
Mandatory spending 2012 (entitlements+TARP): $2.14T
National deficit 2012: $1.1T
So even if ALL defense related spending was cut, even pensions, the US would be running a deficit. Further, there are "millions" (multiple sources) of people whose jobs rely on the defense industry who would quite suddenly join the ranks of the unemployed..which would further raise the deficit, with more on the dole and less paying taxes.