Is the administration being penny wise and pound foolish?

My earlier post was about the fact that the US spends and spends and spends, and saves very little.  We definitely need to stop spending, but we need to be smart when we do it.  Because our current administration tilts Left, it is reluctant to slow the hemorrhage but, to the extent it will cut programs, it wants to cut our defense spending.  Bruce Kesler suggests, quite rightly too, that this approach fits neatly into the penny wise and pound foolish category.

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