Barney Frank Proposes Steep Military Cuts

Rep. Barney Frank (D-Mass.) told progressive activists gathered in Washington Tuesday morning that the only path to a long-term deficit reduction plan is via substantial defense cuts.

“There is no way at all to do a socially responsible deficit reduction plan…without very significant reductions in military spending,” Frank animatedly told participants of the Take Back the American Dream conference.

The current U.S. military budget is $670.9 billion, which is more than any other military in the world. Frank suggested reductions between $225-250 billion per year.

“We overspend because we are overcommitted,” Frank said.

“I am all for America being the strongest nation in the world, but the substantial problem is that we have acted now for 60 years as if we had to be not only the protectors of the world but the guarantor of stability in the world,” Frank added.

Frank argued that the U.S is not only protecting its own country but also heavily subsidizing the defense of the wealthy nations of Europe. According to Frank, the U.S. is spending more now proportionately than during the Cold War.

Frank justified that military spending reductions will lead to more money that can be invested in jobs production.

“They are talking about $1.25 trillion in deficit and we can do twice that in military alone and be a stronger and better and happier nation because of it,” he said.

Opponents of defense cuts, however, say doing so would substantially increase unemployment and further plunge the U.S into economic instability.  

The three-day conference, which concludes tomorrow, is giving progressive activists a chance to share strategies to advance their economic agenda.