October 11, 2012 |
Paul D. Ryan insisted in the vice presidential debate that defense spending would not increase under a Mitt Romney administration. Rather, he said, their budget would prevent President Obama's proposed $478-billion defense cut over the decade, as well as the additional $500-billion cuts coming in January as a result of the 2011 debt-reduction deal with Congress. "We're just not going to cut the defense budget," Ryan said. In this case, Ryan may have been airing a slightly different approach than his running mate.
September 15, 2012
Re "The 'hard power' deficit," Opinion, Sept. 11 Gary Schmitt, who laments the decrease in defense spending by Western governments, writes as if this is another century. Countries no longer field massive militaries, as territorial and ideological struggles have declined. The United States should have learned from the four useless, stalemated Asian land wars that we have fought since World War II. Those small and poor countries chose to not play by our rules and employed hit-and-run, asymmetrical tactics.
July 4, 2012
Re "Who lost Stockton?," Editorial, June 28 The Times gets it mostly correct, stating that running a city "requires skill, experience and a sense of duty. " Its assertion that this "involves the very business-like practice of taking risks with other people's money" is off the mark, however. The comment also applies to state and federal governments. Ever optimists, we assume that the requisite skills and experience are present to address the issues when, in fact, such an expectation is not realistic.
June 28, 2012
Re "Romney's arithmetic," Opinion, June 24 When Ronald Reagan ran for office on a platform of avoiding deficits despite lower taxes and greater Pentagon spending, George H.W. Bush, his opponent in the 1980 GOP primary election, called that approach "voodoo economics," and rightly so considering that Reagan tripled the national debt by the time he left office. It looks as though Mitt Romney has adopted Reagan's platform. He proposes to increase defense spending by as much as 50% while cutting nonmilitary programs.
May 27, 2012 |
WASHINGTON -- Defense Secretary Leon Panetta warned Sunday that it would be “disastrous” for Congress to allow cuts in defense spending to take place as scheduled in January. In an interview that aired on ABC's “This Week,” Panetta said the Pentagon “has to play a role in trying to be able to achieve fiscal responsibility,” but warned against allowing the cuts, which would take place as a result of the failure to reach a deficit reduction deal last year. The cuts to Medicare and defense spending are to be made through a process known as sequestration.
April 27, 2012 |
WASHINGTON - The American economy grew at a sluggish rate in the first quarter, stirring more doubts about the strength of the recovery and the outlook for jobs in coming months. The economy expanded at a lackluster 2.2% annual rate in the first three months of the year, down from a 3% pace in the fourth quarter of last year, the Commerce Department said Friday. Most analysts were expecting the gross domestic product - the total value of goods and services produced in the U.S. - to increase at a 2.6% rate or more in the January-March period.