-The New York Times, January 6, 2012 by Binyamin Appelbaum
A recent study of federal spending since World War II by Alan Auerbach and Yuriy Gorodnichenko, both economists at the University of California, Berkeley, found that the economic benefits from nonmilitary spending were at least 50 percent larger than those from defense spending during periods of normal growth.
-Bloomberg, January 6, 2012 by the Editors
Ultimately, everyone will have to contribute―in the form of increased taxes, curtailed services or both. The longer we wait, the worse the problem will get: Auerbach estimates that another five years of current policy would bring the structural budget deficit to 5.8 percent of GDP a year.