Everyone knows U.S. defense spending is going down. For security-minded progressives, the crucial question is: How far is too far? PPI proposes an answer: No lower than the level at which military settled in the late 1990s after the Cold War ended.
IDEA #5: A Post-Cold War Benchmark for Defense Spending
In our memo "Defense and Deficits: How to Trim the Pentagon's Budget--Carefully," we propose a floor of 3 percent of GDP beneath which defense spending should not be allowed to fall. Such a level would ensure that investments in R&D and procurement are sufficiently robust to maintain America’s superior industrial base and high-tech weaponry.
MORE IN OUR SERIES:
IDEA #1: Scraping regulatory barnacles off the economy—A Regulatory Improvement Commission
IDEA #2: Starting up start-ups--Improving access to credit and access to capital for smaller businesses
IDEA #3: Rescue underwater borrowers; restore homeownership wealth
IDEA #4: An Off-Year Fundraising Time-Out
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President, Progressive Policy Institute