CNNMoney has uncovered a shocking story: Mitt Romney will spend more on national defense than Barack Obama would!
Remembering that Romney has long promised to raise core military spending to 4 percent of gross domestic product, CNNMoney set out to run the numbers. Or, more precisely, they got Travis Sharp of the Center for a New American Security, the think tank founded by Kurt Campbell, current Assistant Secretary of State for East Asia, and Michele Flournoy, until recently the Undersecretary of Defense for Policy, to run the numbers. Using Pentagon budget projections–which reduce defense spending from today’s 3.5 percent of GDP to 2.5 percent of GDP in 2022–and the Congressional Budget Office’s projections of economic growth–the CBO says the American economy will expand from about $16 trillion to nearly $25 trillion per year–Sharp proves the obvious, but undeniably true, facts.
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