Cut Defense Spending, Save the Economy?
By Max Fisher of The Atlantic Wire With the spiraling U.S. budget deficit cited as a primary reason for the recently failed jobs bill, there is rising concern on Capitol Hill about how to pay for the things–such as economic…
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By Max Fisher of The Atlantic Wire
With the spiraling U.S. budget deficit cited as a primary reason for the recently failed jobs bill, there is rising concern on Capitol Hill about how to pay for the things–such as economic stimulus–we so desperately need. The Atlantic’s Josh Green has a suggestion: Why not cut defense spending? It makes up 18.7% of the 2010 federal budget. Secretary of Defense Robert Gates insists we should spend less. Dwight Eisenhower said, “Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and not clothed.” Is Green right? Here are two arguments for cutting the Pentagon’s budget and two arguments for keeping it intact.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
