Over the Horizon: Debt Ceiling Defense Cuts Could Get Messy

Over the Horizon: Debt Ceiling Defense Cuts Could Get Messy

The new debt ceiling deal between President Barack Obama and congressional Republicans included one major Republican concession: deep cuts in defense. The first set of defense budget cuts will amount to $350 billion over 10 years, but the deal includes a triggering mechanism that may tack on another $500 billion or so in the same time period. After a decade of war and more than a decade of sustained defense budget growth, this would represent a major shift in how the United States spends money on its military. In one sense, the decision to cut the defense budget makes a […]

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