" ... Johnson, whose most recent book is Nemesis: The Last Days of the American Republic, the third volume in his "Blowback" trilogy, argues that military expenditures are a drain on the productive capacity of the economy, and that the mistaken idea of what he calls "military Keynesianism" will eventually be our economic undoing. The US economy, he avers, has become increasingly dominated by what President Dwight Eisenhower dubbed the "military-industrial complex." Rampant militarism has diverted vital resources away from productive use and lines of research, and given other countries – Japan and the EU – the technological edge. This trend has also hollowed out our economic base, caused a debilitating decay in the physical infrastructure, and led to a growing debt – that is an economic time-bomb that seems to be exploding … now.
How many Americans realize the US military budget is greater than that of the rest of the world combined? This doesn't include our "off-budget" expenditures in the Iraqi and Afghan theaters, which surpass the combined military budgets of Russia and China. For the first time, the bill for the "defense" of the United States – a task left to the Department of Homeland Security [.pdf], not the Defense Department – exceeds $1 trillion. And that's just what's public: the secret "black budget" costs are unknown, and on this score Johnson advises us to heed economist Robert Higgs, who advises us to take any official Pentagon figures and simply double them. ... "
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