I find Bush's bill much more frightening.
Also, I don't think Obama wants to cut the military, he just wants to use them in a wiser way. We are stretched so thin.
"We cannot continue to rely on our military in order to achieve the national security objectives we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded." if it is true.
I, personally, don't see anything wrong with this quote. However, with the economy, many things will be put on hold.
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