New 'doomsday' defense cuts. Good/Bad

Top law makers in Congress are debating whether to sharply cut defense contracts with some of the largest arms manufacturers in the world e.g. Boeing, Lockheed Martin etc. 

The result could mean hundreds if not thousands of factory workers being laid-off from these massive corporations.  That certainly is a downside, especially in troubled economic times such as these.

But on the positive side perhaps his is about time the USA cut some of its huge 700 billion dollar per year budget, a budget that dwarfs its nearest competitor by over half.  A massive military budget and an economy which needs arms manufacturing and proxy wars to use that equipment it pretty freakin evil!  Its right up there with the privatized prison system!

For more check out the link:http://www.google.com/hostednews/ap/article/ALeqM5jOIx2CAvxdTC9IxQWAf0uvp4y6kw?docId=2b3749b9191c45a697fcdada8dbf6269