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FOR IMMEDIATE RELEASE
Talking About Military Spending and the Pentagon Budget
NORTHAMPTON, MA - February 8 - National Priorities Project and the Project on Defense Alternatives today released a new analysis of U.S. defense budgets -- past, present and future. Talking About Military Spending and the Pentagon Budget looks at many of the current issues relevant to the ongoing debate over the appropriate levels of U.S. military spending.
Last month Defense Secretary Leon Panetta offered a preview of the Pentagon's Fiscal Year 2013 budget request. The request for FY2013 is projected at $525 billion for the Pentagon's annual "base" budget, not including war costs and the nuclear weapons-related activities of the Department of Energy. Based on current Defense Department projections, the Pentagon needs to achieve a total of $487 billion in savings over the next decade.
"While this sounds like a lot of money, it really isn't. For example, based on DoD's calculations, they need to cut $259 billion over the next five years on their way to that $487 billion in savings. During that period the Pentagon will still spend over $2.7 trillion -- closer to $3 trillion when adjusted for inflation," notes NPP's Senior Research Analyst, Chris Hellman.
The debate about what the appropriate levels of Pentagon spending are will be critical to this year's budget process. Talking About Military Spending will put you in the center of that discussion.