I’m scheduled to be on Sunday Edition on CBC Radio One this Sunday, discussing the debt melodrama with Jack Mintz of the C.D. Howe Institute, a right-wing think tank. Recorded it this afternoon. Canadian right-wingers just don’t seem as rabid as ours do.
In 2000, we spent 3.7% of GDP on the military. The Pentagon didn’t have to hold bake sales. We’re now spending 5.4%. Merely going back to 2000 would save 1.7% of GDP, or $255 billion. If over the next decade we spent 3.7% of GDP instead of 5.4%, we’d save $3.6 trillion. That’s close to what many of the deficit hawks are aiming for. Let the Bush tax cuts expire and bump up the top rate a few points and everyone could have free child care and free college tuition! Of course to… Read More