Article: Military spending: Boon or bane to the economy?

Back in January 1984, two economists, David Gold (below) and James M. Cypher (opposite) faced off in the pages of Dollars & Sense to assess the effects of the Reagan military buildup on the U.S. economy. As you can see from their new introductions, the authors have different takes on the size and impact of today's military buildup. Clearly, the debate is still raging. The chart at right should help readers to sort it all out. -Eds.

Fewer Jobs, Slower Growth:

Military Spending Drains the Economy

BY DAVID GOLD

Since 1984, the United States has experienced another cycle in military spending, the third since World War If. The military budget rose through the 1980s, fell in real ...

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