Today, we are witnessing a period of even greater American economic travails, with much larger fiscal deficits. These are coupled with deep concern that less friendly powers—China in particular and perhaps Russia and others—may be poised to benefit from the relative decline of the United States specifically and the West in general. Is this assessment accurate? What do these shifting economic realities bode for the future of American power and ultimately the security of this country and its allies? Most of all, in light of these changes, to what extent can the United States mitigate the downsides of any hegemonic realignment of global power by more responsible fiscal policy? Put most sharply for the purposes of this essay, to what extent should the United States, as part of a broader strategy to reduce its deficits and strengthen its future economic prospects, accept some defense budget cuts now to preserve and enhance its power in the future?
This paper wrestles with these questions by first exploring the broader question of historic change and the transformations in global economics that ultimately affect military power and national security. It then focuses more specifically on the present American economic and budget challenges. Finally, concluding that serious measures should at least be considered in response to current fiscal challenges, the paper explores options for defense budget reductions that would make a significant contribution towards broader American deficit reduction efforts. More at:
http://www.brookings.edu/papers/2010/12_defense_budget_ohanlon.aspx
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