Terence P. Jeffrey
Nov 16, 2012
President Barack Obama increased inflation-adjusted Department of Defense spending by 10 percent–even while ending the war in Iraq.
That is more than the automatic cut in defense spending that will take place in January if Obama and Congress do not agree to a new spending-and-debt-limit deal.
In fiscal 2008, the year before Obama took office, real Defense Department spending was $526.9 billion in constant 2005 dollars, according to official figures published by the Office of Management and Budget. Four years later, in fiscal 2012, which ended on Sept. 30, real Defense Department spending was $582.5 billion in constant 2005 dollars.
The $55.6 billion jump in real Defense Department spending from 2008 to 2012 was a 10.5 percent increase.
This article was posted: Friday, November 16, 2012 at 10:13 am