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From the Maurice R. Greenberg Center for Geoeconomic Studies

August 2012

Trends in U.S. Military Spending

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Hugh Gentry / Courtesy Reuters


As deficits cloud the U.S. fiscal outlook, Democrats and Republicans are debating the size of the American military budget. President Barack Obama proposes cutting military spending to 2000 levels (3.7 percent of GDP), but Republican nominee Mitt Romney wants to set a floor for core defense spending at 4 percent of GDP. A newly updated Chart Book puts this debate in historical and global context by illustrating trends in U.S. and international defense spending. See the Chart Book ยป


Conditionality and the Euro

ECB Is Right To Ask For More Eurozone Action

CFR Co-chairman Robert Rubin argues that the European Central Bank (ECB) would risk losing its credibility and stoking inflation if it did not impose conditionality on its bond-buying program. Read the Op-Ed »

This Will Not Be Enough, Mr. Draghi

CFR Senior Fellow Sebastian Mallaby counters that the conditionality of the ECB plan to resume sovereign bond purchases will blunt the intervention's effectiveness. Read the Column »

Tax and Spend

Who Benefits from "Tax Expenditures"?

In the latest Geo-Graphics post, Benn Steil and Dinah Walker analyze "tax expenditures" by beneficiary income bracket, showing that three of the largest disproportionately benefit the well-off. Read the Blog »

Five Myths About Paul Ryan's Budget

CFR Adjunct Senior Fellow Peter Orszag contends that Representative Paul Ryan's budget plan is not a serious proposal for solving America's long-term fiscal problems. Read the Article »

Freeing Trade

The Case for Natural Gas Exports

CFR Senior Fellow Michael A. Levi explains why the United States should allow liquefied natural gas exports and how to mitigate the associated risks. Read the Op-Ed »

Trading in Hate

CFR Senior Fellow Jagdish Bhagwati faults the Obama administration and the Democratic Party for fostering anti-Indian sentiment with protectionist rhetoric. Read the Column »

Stop and Go

When Government Stands Still

CFR Distinguished Visiting Fellow Michael Spence and David Brady of the Hoover Institution cite risk aversion, rigid political systems, and a dearth of effective policy tools among the factors incapacitating political leadership in the world's major economies. Read the Article »

When Government Gets Involved

CFR Senior Fellow Edward Alden writes that a new analysis of U.S. manufacturing regulations highlights the importance of measuring regulatory costs against the gains in public welfare they achieve. Read the Blog »



About CGS

The Maurice R. Greenberg Center for Geoeconomic Studies (CGS)
works to promote a better understanding among policymakers, scholars, journalists, and the public about how economic and political forces interact to influence world affairs.

Michael A. Levi
Director of the Maurice R. Greenberg Center for Geoeconomic Studies
Edward Alden
Bernard L. Schwartz Senior Fellow
Thomas J. Bollyky
Senior Fellow for Global Health, Economics, and Development
Blake Clayton
Adjunct Fellow for Energy
Heidi Crebo-Rediker
Senior Fellow
James P. Dougherty
Adjunct Senior Fellow for Business and Foreign Policy
Jennifer Harris
Senior Fellow
Miles Kahler
Senior Fellow for Global Governance
Robert Kahn
Steven A. Tananbaum Senior Fellow for International Economics
Sebastian Mallaby
Paul A. Volcker Senior Fellow for International Economics
Meghan L. O’Sullivan
Adjunct Senior Fellow
Peter R. Orszag
Adjunct Senior Fellow
Varun Sivaram
Matthew J. Slaughter
Adjunct Senior Fellow for Business and Globalization
A. Michael Spence
Distinguished Visiting Fellow
Benn Steil
Senior Fellow and Director of International Economics


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