Don’t Buy the Spin: How Cutting the Pentagon’s Budget Could Boost the Economy | The Nation

13 May

However, the crucial question is not how many jobs are created by spending, for example, $1 billion on the military. Rather, it is whether spending that $1 billion creates more or fewer jobs when compared with spending $1 billion on alternative public purposes, such as education, healthcare and the green economy—or having consumers spend that same amount of money in any way they choose.

In fact, compared with these alternative uses, spending on the military is a poor source of job creation. As we see in the graph (right), $1 billion in spending on the military will generate about 11,200 jobs within the US economy. That same $1 billion would create 16,800 jobs through clean energy investments, 17,200 jobs within the healthcare sector or 26,700 jobs through support of education. That is, investments in clean energy, healthcare and education will produce between 50 and 140 percent more jobs than if the same money were spent by the Pentagon. Just giving the money to households to consume as they choose would generate 15,100 jobs, 35 percent more than military spending.

via Don’t Buy the Spin: How Cutting the Pentagon’s Budget Could Boost the Economy | The Nation.

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