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Defense Spending and the U.S. Economy |
| Section: CURRENT ISSUES / SPECIAL REPORT--AMERICA'S DEFENSE: HOW MUCH IS ENOUGH NOW? |
| Author: Murray Weidenbaum |
| Publication: The world & I online |
| Issue Date: 4/1/1990 |
| Size: 4,096 Words, 24,669 Characters |
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Public policy in the United States sometimes seems to shift as rapidly as seasonal fashions. For years, many analysts bemoaned the heavy burden of military expenditures borne by the American economy. Nowadays, in contrast, a feeling is growing rapidly that a generous peace dividend could finance all sorts of "unmet" social needs. Some perspective is very much needed in order to contain any impending shift from gloom to euphoria.
Paul Kennedy of Yale warned in 1987 that too large a proportion of a nation's resources being allotted to military purposes most likely would lead to "a weakening of national power over the longer run." Former Sen. J. William Fulbright seemed to believe that the United States had already attained that sad state. In early 1989, he wrote that the United St...
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...pecially on the basis of misreading economic analysis. This is not a plea for adopting any particular level of military outlay. Rather, the amount of resources that the United States devotes to the defense establishment should be determined on political - that is, essentially national security - grounds, with due regard to the pressures of competition from other demands on the public purse.
(806 of 24,669 characters)
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