The Foreign Policy magazine has been caught lying about America’s military spending.
It did acknowledge that the US military still holds a few cards against the PLA and that it has a larger budget than the PLA. So what do you do when you don’t dare claim that China is militarily stronger than the US?
The magazine falsely claimed that American military might is “ever less useful”. If the US has an asset you don’t have, lie that it’s useless.
There was also another lie: that the US military budget is completely financed by borrowing, and that the US borrows money from other countries (incl. China) to finance its military. This is a blatant lie.
The entire US military budget for FY2010 was $674 bn in today’s money ($664 bn in 2009’s money); the military budget for FY2011, under the ConRes, is $685 bn. Sounds like a lot of money, right? Yes, but it constitutes just a tiny portion of the federal government’s $3.6 trillion annual budget.
Moreover, the federal government earns enough revenue every year to finance not just one, and not just two, but three Pentagons. The annual federal government revenue (due entirely to taxes, not privatizations) is $2.1 trillion, despite the current economic crisis. The FY2011 DOD budget is, like I said, $685 bn. So there’s more than enough revenue in the federal treasury to finance the entire military budget from taxes. The entire DOD budget is financed from tax revenue. Not a cent of it is borrowed from anyone – whether domestic or foreign lenders. The federal government actually makes enough tax revenue very year to finance the entire annual military budget AND the budgets of some other smaller agencies.
The US doesn’t borrow, and doesn’t have to borrow, a cent to finance its military. It does, however, borrow a lot of money every year to pay for its bloated, unaffordable, unconstitutional entitlement programs. And THAT is the chief reason why America is now indebted to the tune of $14 trillion.
Andrew Foy, MD, recently repeated this myth on AT:
“considering that we are currently borrowing the entire defense budget — which, as Mitch Daniels pointed out in his CPAC speech, “is not a robust strategy””
The only people who repeat this myth are ignorant people who don’t know what they’re talking about, and dishonest people who are lying to the American people. Which group does Dr Foy belong to?