realize that former Defense Secretary Leon Panettarecently said that the Defense spending cuts under theSequester, which were less than half the amount I amproposing, threatened to make the U.S. a second ratemilitary power. However, I am also aware that the U.S.currently spends more than half of the amount spent onmilitary budgets in the whole world. Even with a $100Billion reduction we would still be right around the 50%mark. If our Defense Secretary and our Military leadershipcannot provide us with a first rate military spending thatmuch they should be replaced rather than increasing thebudget.
The second target for a significant cut would be ourbudget for foreign aid. Until we get our own house in orderwe simply cannot afford to squander billions of dollars oncountries and people, who do not appreciate theassistance and who, in many cases, actually hate theUnited States. I would cut this unnecessary spending by aminimum of $15 Billion in 2014 and limit future growth toa maximum of 2% per year for the next twenty years.
While I recognize the importance of Social Security to oursenior citizens and our society we must change themethod used to calculate the annual cost of livingadjustment as has been proposed by Republicans and hasbeen put ‘on the table’ by President Osama. This changewill save billions of dollars over the next ten years and willhelp keep Social Security solvent which is of crucialimportance.4.All other Federal expenditures, excepting the items in thenext section, would be limited to a 3% increase over the2013 Budget and would be limited to 2% per yearincreases for the next 20 years.