StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between

Merill Goozner

Posted by Stan Collender

Here are two easy-and-quick-to-read pieces on the magnitude of the military spending changes Secretary of Defense Leon Panetta actually announced last week. The simple answer according to two people who know is that the reductions are less than the headlines indicated.

First, over at the Will and the Wallet, CG&G alum Gordon Adams did this very nice post about how what Panetta announced is "promising" in the sense that it shows there is finally the start of a meaningful shift in DOD strategy that could lead to significant savings. But Gordon says the proposal is also "dangerous" because the plans leaves "the long term budget trajectory...unrealistically high" and will leave Pentagon planners with the notion that they'll have more to spend in the future than will be the case.

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