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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (220667)2/24/2005 9:55:55 PM
From: tejek  Read Replies (1) of 1576120
 
,I>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.

Defense spending has increased by 800% from its 1962 level.<EOM>

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.

It has nothing to do with its drag on the economy. Not everything is about the economy. There are things we could be doing if we weren't spending so much money on defense.............like not cutting Amtrak.

ted
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