Defense industry scare tactics won’t create jobs
As indicated by the recent roll out of the House Republican budget strategy, the gloves are off in the battle to define the country’s spending priorities in the run-up to the November elections. But neither party adequately addresses the largest item in the discretionary budget: the Pentagon.
The Obama Administration’s approach to curbing runaway defense spending has been far too timid, while Republicans – from Paul Ryan to Mitt Romney – actually want to increase spending substantially beyond current levels.
A key player in this debate is the defense industry, which is pulling out all the stops to get the Pentagon a free pass from future budget cutting. The industry’s main trade group, the Aerospace Industries Association, has financed two studies raising the specter of a million jobs lost from planned Pentagon cuts.