The Importance of Demobilization in the Economy

I think that's an important point that we can exaggerate how crucial it is to the economy because even though we have this monster defense budget of 900 billion it's actually only about 4% of GDP today. We've had successful demobilizations after major wartime spending three or four times in the last century and we made the adjustment quite rapidly when there was no reason to keep it going. When you stop spending money on waste on things that we don't need either for defense and certainly for civilian life the economy itself has great powers of adjustment and regeneration maybe we have some kind of federal readjustment programs, he says.