Rep. Barney Frank: We can't be the sugar daddy to the whole world

Although Rep. Frank did not say this, it is important to note that the US spends more than all other industrialized nations combined on defense.

The US is supporting troops in Europe and South Korea with no contribution from the host countries that have thriving economies and much else.

Germany currently enjoys low unemployment, a growing manufacturing base and is protected by the US.

At no time has the US waged war(s) without raising taxes, except for the Bush Wars paid for with the credit card your children and grandchildren will pay.

It's time to cut the military.



Rep. Barney Frank says US should look to military budget

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(NECN) - One of seven MA house members who voted no in the stalemate over raising the debt ceiling, Rep. Barney Frank, Democrat out of Newton, was not entirely satisfied with the president's response to the recent credit downgrade.

Frank also stresses that the country is rich, but not as rich as we used to be.

There's a $125 billion budget a year in Iraq and Afghanistan that Frank believes we should bring home and split up, with half going to our nation's debt.

He also says that given our economic situation, we can't go beyond our own defense.

"We can't be the sugar daddy for the whole world," says Frank, who questions if it is worth continuing the war given the costs.