As the Obama administration announces proposed sweeping defense cuts, a Congressional Budget Office report documents how increases in other areas of domestic spending may be forcing the White House to reduce money for the military.
The CBO report finds that mandatory spending, which includes Social Security, Medicare and Medicaid, is projected to rise $85 billion, or 4 percent, to $2.1 trillion this year.
Interest on the debt is worse. It is projected to increase 14 percent per year, almost quadrupling in dollar terms between 2014 and 2024. "We are going to be spending more in interest in a couple of years then we do on national defense," House Armed Services Committee Chairman Buck McKeon, R-Calif., told Fox News.
http://www.foxnews.com/politics/201...-be-behind-proposed-military-cuts-cbo-report/
The CBO report finds that mandatory spending, which includes Social Security, Medicare and Medicaid, is projected to rise $85 billion, or 4 percent, to $2.1 trillion this year.
Interest on the debt is worse. It is projected to increase 14 percent per year, almost quadrupling in dollar terms between 2014 and 2024. "We are going to be spending more in interest in a couple of years then we do on national defense," House Armed Services Committee Chairman Buck McKeon, R-Calif., told Fox News.
http://www.foxnews.com/politics/201...-be-behind-proposed-military-cuts-cbo-report/