Fareed Zacharia writes:

The Pentagon’s budget has risen for 13 years, which is unprecedented. Between 2001 and 2009, overall spending on defense rose from $412 billion to $699 billion, a 70 percent increase, which is larger than in any comparable period since the Korean War. Including the supplementary spending on Iraq and Afghanistan, we spent $250 billion more than average U.S. defense expenditures during the Cold War — a time when the Soviet, Chinese and Eastern European militaries were arrayed against the United States and its allies. Over the past decade, when we had no serious national adversaries, U.S. defense spending has gone from about a third of total worldwide defense spending to 50 percent. In other words, we spend more on defense than the planet’s remaining countries put together.

It is not unprecedented for defense spending to fall substantially as we scale back or end military actions. After the Korean War, President Dwight Eisenhower cut defense spending 27 percent. Richard Nixon cut it 29 percent after Vietnam. As tensions declined in the 1980s, Ronald Reagan began scaling back his military spending, a process accelerated under Presidents George H.W. Bush and Bill Clinton. Given the enormous run-up in spending under George W. Bush, even if President Obama made comparable cuts to that of those presidents today, defense spending would remain substantially above the levels under all those presidents. The Bowles-Simpson commission’s plan proposed $750 billion in defense cuts over 10 years. Lawrence Korb, who worked at the Pentagon for Ronald Reagan, believes that a $1 trillion cut over 10 to 12 years is feasible without compromising national security.

Serious conservatives should examine the defense budget, which contains tons of evidence of liberalism run amok that they usually decry. Most talk of waste, fraud and abuse in government is vastly exaggerated; there simply isn’t enough money in discretionary spending. Most of the federal government’s spending is transfer payments and tax expenditures, which are — whatever their merits — highly efficient at funneling money to their beneficiaries. The exception is defense, a cradle-to-grave system of housing, subsidies, cost-plus procurement, early retirement and lifetime pension and health-care guarantees. There is so much overlap among the military services, so much duplication and so much waste that no one bothers to defend it anymore. Today, the U.S. defense establishment is the world’s largest socialist economy.