Columbia International Affairs Online: Policy Briefs

CIAO DATE: 03/2013

OPTIONS FOR NATIONAL DEFENSE SAVINGS: FISCAL YEAR 2013

Carl Conetta, Charles Knight, Ethan Rosenkranz, Christopher Preble, Benjamin H. Friedman

May 2012

Project on Defense Alternatives

Abstract

Today the United States faces an unparalleled fiscal challenge. There is bipartisan support for halting the recent rapid growth in federal debt. And there is a commitment in law to cutting deficit spending by more than $2.1 trillion over ten years. Yet, national leaders remain at an impasse, unable to agree on a way to accomplish these ends. The only unity that Congress and the President may find this year is in taking action to revise the Budget Control Act of 2011 and undo or delay the sequestration of funds that it entails. America needs more from its political leadership – and more is possible. There has been insufficient progress