Cain's Daily Commentary: Defense Spending Cuts
Published by: Herman Cain on Tuesday August 7th, 2012
I’m Herman Cain. They think we are stupid!
It didn’t get much attention when it happened, but last year President Obama demanded what Washington calls a $500 billion sequester – an automatic round of budget cuts – to the defense budget if he did not get tax increases he wants.
This $500 billion sequester is now set to take effect on January 2, and if it is not stopped, the military and civilian defense contractors are looking at tens of thousands of layoffs – maybe even more than that. Some of the defense contractors are already sending out layoff notices.
I am all for cutting federal spending! But there is such a thing as prioritizing. There are certain vital functions that are crucial for the federal government to perform, and perform well – and at the top of this list are national defense and national security. For a guy who thinks none of us build our businesses without roads, bridges and teachers, you’d think Obama would place a pretty high value on people who guard our shores and on the private companies who supply them with the hardware they need.
But he doesn’t. Congressional Republicans know we can’t skimp on national defense, and they’ve offered Obama an alternative set of cuts from other parts of the budget. Obama has ignored their proposal. Either he gets his tax increases or the defense sequester goes forward. And in cities and towns all across America, companies like Lockheed, Raytheon and Pratt & Whitney are bracing themselves and trying to prepare their employees for the worst.
I guess the president’s faulty economic instincts of spending to stimulate growth don’t apply to the defense industry. Or maybe it’s just the one sector where spending doesn’t buy him votes. We are not stupid! I’m Herman Cain.
Revised by: LL
August 6, 2012