Thursday, March 5, 2009

WSJ: Declining Defense Obama's budget does cut one federal department.

http://online.wsj.com/article/SB123595811964905929.html

For all of his lavish new spending plans, President Obama is making one major exception: defense. His fiscal 2010 budget telegraphs that Pentagon spending is going to be under pressure in the years going forward.

The White House proposes to spend $533.7 billion on the Pentagon, a 4% increase over 2009. Include spending on Iraq and Afghanistan, which would be another $130 billion (or a total of $664 billion), and overall defense spending would be around 4.2% of GDP, the same as 2007.