Does the U.S. Military Face 'Goofy Meat Axe' Cuts? | Benjamin H. Friedman | Cato Institute: Commentary

Does the U.S. Military Face 'Goofy Meat Axe' Cuts? | Benjamin H. Friedman | Cato Institute: Commentary: ".S. Senator John McCain, for example, claims that sequestration will result in an "inability to defend the nation," without bothering to say which of our minor enemies will suddenly outgun us."

"sequestration would leave the 2021 Pentagon with purchasing power about equal to what it had in 2006, leaving out the wars. That would leave more in real terms than what we spent on the military at the height of the Cold War."

"the Pentagon has authority to transfer or reprogram funds, some with the permission of the chairmen and ranking members of four defense committees. The Pentagon has used those powers to shift $12 billion to $15 billion annually of late. That's potentially half of the outlays that sequestration would take in 2013."