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Wednesday, March 7, 2012

Recalculating Romney’s Four Percent Gimmick

http://www.cato-at-liberty.org/recalculating-romneys-four-percent-gimmick/ Recalculating Romney’s Four Percent Gimmick
Posted By Christopher Preble
On March 6, 2012
I have a new piece up at ForeignPolicy.com on Ron Paul and the Republican Party [1], focused in particular on the strong support that Paul draws from young people, with some additional speculation about where those young people will end up, if and when Paul steps back from his very public role. My instincts are that these young people are motivated at least as much by the ideas that Paul espouses as by Ron Paul, the person. If I am correct, many of them are likely to remain active in politics. I close with a warning to GOP leaders that they would be making a grave error if they ignored this libertarian-leaning voting bloc. Unfortunately, that is what the GOP’s leading candidate, Mitt Romney, seems to be doing by pushing a short-sighted plan for boosting military spending at a time when the country is awash in debt.
I have always been puzzled by the fact that conservatives who rail against welfare dependency here at home miss the pernicious effects of security dependency among our allies. Tim Pawlenty didn’t get it [2]. Neither does Mitt Romney. Rather than questioning the mantras that have guided U.S. foreign policy for over a generation, Romney simply assumes that the United States will remain the world’s policeman, other countries will continue to free-ride on our security guarantees, and U.S. taxpayers will happily foot the bill. He proposes spending at least four percent of GDP on the military’s base budget, plus whatever additional money might be needed to fight the wars that he wants to fight (for example, this one [3]).
I commented on the Four Percent Gimmick [4] a few months ago, and now I have a bit more detail about Romney’s plan relative to the Obama administration’s latest 10-year projections. I alluded to these numbers in the ForeignPolicy.com piece, and below provide some more detail. (I am grateful, as always, for the help of my colleague Charles Zakaib in sorting through these, and in preparing the charts).

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