Defense Drawdown Will Plunge Deeper Than You Think -- Aol Defense
In this exclusive article for AOL Defense, President of Monitor National Security Ajay Patel and retired U.S. Navy Rear Admiral and Senior Advisor Ben Wachendorf claim the impact of looming defense budget will be much worse than expected.
Defense Secretary Leon Panetta has warned Congress about the potentially catastrophic impact of the $500 billion in Super Committee cuts on defense capabilities. Will the cuts truly be as deep and long-lasting as predicted? If history is a guide – no – they will be worse.
A graphic in our recent study of defense budgets shows a roller-coaster ride of dramatic peaks and valleys. Following the Vietnam era buildup was a precipitous decline. Then came the soaring expenditures of the Reagan era and First Gulf War followed by the deep dive of the "peace dividend" period. The horrors of 9/11 induced the sharpest climb with over $1.5 trillion of defense increases (in constant fiscal 2012 dollars) over the next 10 years. That was over twice the increase in constant dollars of the ten year periods associated with the war in Vietnam and the Reagan - Gulf War I buildup.
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My Comment: I have to agree with this assessment. I remember when the Soviet Union broke up and the decision was made by Russia to have a smaller defense budget but still maintain their armed forces .... well .... to put it mildly .... the impact was also far greater than expected, and even today they are still trying to play"catch-up".
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