Bin Laden's Death Could Push Defense Cuts

(TheStreet) -- The killing of terrorist mastermind Osama bin Laden comes as the defense budget, like all government spending, is under a microscope. The last time the Pentagon's budget was reduced was back in 1998. In the years since the 9/11 attack on the World Trade Center, the U.S. has spent $6.5 trillion on defense expenditures, roughly a $2.5 trillion increase in what would have been expected from a level-funded budget adjusted for inflation. More than 92,000 troops were added to our armed forces since the attack. Amid budget battles and debates over whether to raise the country's debt ceiling, the death of Osama bin Laden could boost the political will to finally cut defense spending. One proposed cut: $1 trillion over a decade.

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