US: no cuts in defense spending

© Scanpix/AFP

It was taken for granted that US planned deficit reduction by $1.2tn will result in drastic cuts of investment in defense. However, what is called "drastic cut" in Congress means only more moderate growth in security spending than predicted. Recently announced reduction in defense spending actually resulted in increase in investment into national security between 2012 and 2020 by 16%, from $695 billion to $818 billion.