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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (220422)	2/24/2005 5:40:05 PM
From: TimF	Read Replies (2) of 1575770

Who cares? In real dollars it increased 800%. No, in nominal dollars it increased 800%. "Real dollars", is normally take to mean inflation adjusted dollars, and is a much more important consideration. Looking at nominal prices and costs gives a very distorted vision of how much things really cost. If you want to only use nominal dollars than you can look at a figure like this and think the US has done a lot better than it really did. marktaw.com And if you want to use nominal dollars you have to compare a defense increase of 800% in the last 43 years with a social security spending increase of about 4200% in the same time period, and a Medicare increase of close to 10000% in 5 less years. truthandpolitics.org In real dollars military spending increased by about 33% since 1962, and spending was well over double the current level in 1944 (with a lot more reason for it to be high but with less than half the current population, and a real per capita GDP less than 1/3rd of todays). Or to look at it another way defense spending in my lifetime has gone from 9.5% of GDP to about 4%. And it needs to get smaller. (It meaning defense spending) I'm not sure what exactly you mean by needs in this context. If we can reduce it there will be some benefit but 4% of GDP isn't enough to be a major drag on the economy. If we cut spending down to the lowest amount Clinton ever spent (which is probably to low even if we end operations in both Afghanistan and Iraq) it still won't be close to enough to cover the increased spending coming from either social security and medicare. If you want to make serious cuts in future government spending you have to go to where the money is. Its in entitlement spending, which even now is bigger than defense and eventually will be much bigger unless you are anticipating a WWII style mobilization. Tim

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