Niall Ferguson: America’s Dumbest Budget Cut

HISTORY BUZZ: HISTORY NEWS RECAP

History Buzz

Source: Newsweek, 6-26-11

Why Republicans are wrong to put fiscal arithmetic ahead of global influence.

republicans-budget-ferguson

Emmanuel Dunand / AFP-Getty ImagesPeople outside the 2012 Republican candidates debate in New Hampshire. Bring the troops home. Considering how polarized American politics is supposed to be, the consensus on this one point verges on the supernatural.

President Obama recently announced a new schedule for scaling down the U.S. military presence in Afghanistan. A total of 10,000 men will come home this year and a further 20,000 by the end of next summer. The surge is over.

This is not a declaration of victory. It is a declaration of bankruptcy. “From a fiscal standpoint, we’re spending too much money on Iraq and Afghanistan,” a senior administration official told The New York Times. “There’s a belief from a fiscal standpoint that this is cannibalizing too much of our spending.”

There was a time when Republicans—and not a few Democrats—would have been dismayed by such a retreat. Yet in their televised debate just a few days before the president’s announcement, the Republican presidential hopefuls vied with one another to out-dove him….READ MORE

%d bloggers like this: