Seeking Alpha

"American leadership in aerospace and defense is being threatened by forces in Congress and the...

"American leadership in aerospace and defense is being threatened by forces in Congress and the administration," says a coalition of manufacturers attempting to sink their teeth into the supercommittee. Defense spending- not including multiple wars - has doubled to more than $500B annually in the 10 years since 9/11.
From other sites
Comments (5)
  • jw4golf
    , contributor
    Comments (340) | Send Message
     
    everything is being threatened by the administration and democratic forces in congress. cut spending and balance the budget and eliminate stupid programs
    14 Sep 2011, 06:01 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Our curent president is ashamed to be an American and would like to cut us down a notch or two; echoing the sentiment of his father (at least according to his book.)

     

    It appears he is getting his wish.
    14 Sep 2011, 06:20 PM Reply Like
  • Tricky
    , contributor
    Comments (1590) | Send Message
     
    Ah yes. I was wondering when all the "if we don't spend multiple factors over the rest of the world combined on defense we are going to be invaded soon" arguments would start.

     

    Look folks. In attacking a deficit this far out of whack, you simply cannot fix it without addressing revenues AND social security AND defense. No other numbers matter, all the rest is political theater and nibbling at the margins.
    14 Sep 2011, 07:34 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Tricky, I was referring to leadership in aerospace and defense. Leadership does not come from spending. It comes from being frugal, visionary, smart about what needs to be done. None of which are O'Bama. One the one hand we have the spend, spend and spend some more crowed (Democrats) and the other hand we have the spend a little, spend a little more, and spend a little more crowed (Republicans). We need the cut, cut and cut some more crowd.

     

    So yes, we need to cut defense. But we don't need to cut the needed defense items just to make a political point about hating the military. On the other hand there is no need to cut defense if there is not going to be a corresponding cut in social programs. The constitution calls for national defense as a valid government expenditure.

     

    Social programs are not mentioned as a valid government expense at all. In reality, they are just vote buying. And its why the socialists folded up in the mid 50's because they decided that with the Democrat platform, a socialist platform was no longer needed. We need to get back to the basics that we can afford. We are no longer an affluent country, we cannot take care of the hanger-ons and leaches. We simply no longer have the money.
    14 Sep 2011, 07:59 PM Reply Like
  • Tricky
    , contributor
    Comments (1590) | Send Message
     
    Neil, you make some good points, and thanks for expanding upon your earlier post.

     

    I would similarly propose there is LOTS of defense spending we DON'T need. I agree in cutting intelligently. But there's plenty of stuff that can go. Even programs that the military itself doesn't even want but is forced on them by house and senate members of BOTH parties.

     

    Cheers.
    14 Sep 2011, 08:13 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs