Military Balance 2012

"For those people who are truly concerned about deficits — real Hawks, not deficit peacocks — should take a look at this chart from The International Institute for Strategic Studies.
Look at the comparative defense budgets of various countries, versus what can only be described as the unique military budget of the USA; if you are serious about balancing federal debt, any plan should include significantly reduced spending in this budget line:
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Source: The International Institute for Strategic Studies

at http://www.ritholtz.com/blog/2012/03/military-balance-2012/

The Simple Problems Of Too Much US Debt

"In a succinct and chart-laden presentation, Professor Antony Davies, of Duquesne, offers a simple perspective on just how bad things are for the US (in terms of debt or obligations). Putting the interest cost in the context of war-spending, his analysis is interesting given the recent and dramatic rise in interest rates. Current interest payments, given the US Government's lowest ever 3% interest cost, are $440 billion, or three times the annual operating expenses of the Iraq and Afghanistan wars. While his discussion of a market-set interest rate is perhaps a little off-the-mark given the extent of QE programs and their reach-around prime-dealer duration-reducing effects, it is nevertheless true that the more money the government is spending on interest, the less money is available to provide services and his punchline on what happens should rates rise even modestly from here sums the real problem the US faces (even as a currency issuer as opposed to a currency user - given the inherent instability that making totalitarian use of the reserve status would incur)..."

at http://www.zerohedge.com/news/simple-problems-too-much-us-debt