It appears that the administration may be cutting the US Military in order to fund significant increases in entitlement spending such as Social Security, Medicare, and Medicaid. According to a new report put out by the Congressional Budget Office, these three programs’ expenditures are expected to rise to $2.1 trillion this year, a 4% increase. Interest on the debt is far worse, seeing an increase of 14% per year.
As the Obama administration announces proposed sweeping defense cuts, a Congressional Budget Office report documents how increases in other areas of domestic spending may be forcing the White House to reduce money for the military.
The CBO report finds that mandatory spending, which includes Social Security, Medicare and Medicaid, is projected to rise $85 billion, or 4 percent, to $2.1 trillion this year.
Interest on the debt is worse. It is projected to increase 14 percent per year, almost quadrupling in dollar terms between 2014 and 2024. “We are going to be spending more in interest in a couple of years then we do on national defense,” House Armed Services Committee Chairman Buck McKeon, R-Calif., told Fox News.
The Obama administration acknowledges the defense cuts are controversial but maintains they are being done with a specific intention:”…in order to sustain our readiness and technological superiority and to protect critical capabilities like special operations forces and cyber resources,” Secretary of Defense Chuck Hagel told reporters Monday.