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U.S. National Security Budget in Fiscal 2013 Will Be Nearly $1 Trillion

Posted By admin On May 27, 2012 @ 5:18 am In Money Watch | Comments Disabled

Chris Hellman and Mattea Kramer
Asia Times [1]
May 27, 2012

Recent months have seen a flurry of headlines about cuts (often called “threats”) to the United States defense budget. Last week, lawmakers in the House of Representatives even passed a bill that was meant to spare national security spending from future cuts by reducing school-lunch funding and other social programs.

Here, then, is a simple question that, for some curious reason, no one bothers to ask, no less answer: How much are we spending on national security these days? With major wars winding down, has Washington already cut such spending so close to the bone that further reductions would be perilous to our safety?

In fact, with projected cuts added in, the national security budget in fiscal 2013 will be nearly $1 trillion – a staggering enough sum that it’s worth taking a walk through the maze of the national┬ásecurity budget to see just where that money’s lodged.

If you’ve heard a number for how much the US spends on the military, it’s probably in the neighborhood of $530 billion. That’s the Pentagon’s base budget for fiscal 2013, and represents a 2.5% cut from 2012. But that $530 billion is merely the beginning of what the US spends on national security. Let’s dig a little deeper.

Full article here [1]

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URLs in this post:

[1] Asia Times: http://www.atimes.com/atimes/global_economy/ne24dj04.html

[2] US August Budget Deficit Soars To $192 Billion, $1.17 Trillion In Fiscal 2012: http://www.prisonplanet.com/us-august-budget-deficit-soars-to-192-billion-1-17-trillion-in-fiscal-2012.html

[3] U.S. Budget Gap Exceeds $1 Trillion for Fiscal Year: http://www.prisonplanet.com/u-s-budget-gap-exceeds-1-trillion-for-fiscal-year.html

[4] Obama, Boehner close gap on fiscal cliff deal, eye trillion-dollar tax hike: http://www.prisonplanet.com/obama-boehner-close-gap-on-fiscal-cliff-deal-eye-trillion-dollar-tax-hike.html

[5] U.S. budget gap widens, tops $1 trillion for third year: http://www.prisonplanet.com/u-s-budget-gap-widens-tops-1-trillion-for-third-year.html

[6] Fiscal Cliff Deal: $1 In Spending Cuts For Every $41 In Tax Increases: http://www.prisonplanet.com/fiscal-cliff-deal-1-in-spending-cuts-for-every-41-in-tax-increases.html

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