Joint Chief of Staff Overestimates the Deficit

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Tuesday, 06 July 2010 04:44

Morning Edition ran a piece (not on its website) today that presented the view of the Admiral Mike Mullen, the chairman of the Joint Chiefs of Staff, that the national debt is the greatest threat to the security of the United States. According to the piece, Mr. Mullen claimed that in a couple of years the United States would be spending $600 billion a year in interest, an amount that he claimed was larger than the defense budget.

According to the Congressional Budget Office, the government is projected to spend $298 billion in interest in 2012 (@ 2 percent of GDP), less than half of projected spending on defense.