The U.S. emerged from the cold war as the only military and economic superpower and maintained that position throughout the 1990s while substantially reducing military spending and force levels. The peace dividend produced by the spending reductions contributed significantly to America’s sustained economic expansion by easing pressures on the federal budget, making possible lower interest rates, and fueling greater investment. Although it is arguable whether the best use was made of the resources that were freed, it is unquestionable that military cuts were a major cause of the record long recovery.

U.S. defense contractors were full participants in the last election cycle. Their contributions, totaling $13.5 million, were liberally distributed among both presidential campaigns, major party coffers, and House and Senate races, heavily emphasizing the members of both houses’ Armed Services Committees. This corporate campaign financing will help ensure that weapons industry interests will be well served in the coming year’s budget process.

The Bush administration has made many of its major priorities clear through the selection of the president’s foreign policy advisers.

The first six weeks of the George W. Bush era, starting with the flurry of appointments he made during December, through the confirmation hearings of his key cabinet members earlier this month, and on into his first full week in office, has had a very “retro” feel about it. We have a vice president who was Gerald Ford’s chief of staff, and we have a secretary of defense who got his start in the Nixon administration in 1969 before he went on to become Ford’s chief of staff and then Ford’s secretary of defense.