Martin Feldstein: If we aren't the global policeman, then who is?

Ryan Streeter
Follow Ryan on Twitter

Thanks to Tom Donnelly at the Enterprise blog for pointing out Martin Feldstein's words from the AEI Irving Kristol Dinner this week. Tom quotes Feldstein, whom Tom describes as "a man of habits arguably more 'paleo' than 'neo.'

There are also those who say we cannot afford to be the global policeman. But should we really be deterred from that role when the cost of our entire military budget—including the actions in Iraq and Afghanistan—is now less than 5 percent of our GDP? There is no danger of bankrupting ourselves by so-called “imperial overreach” when we spend less than 5 percent of GDP on defense. And while there is no doubt waste in military budgets and military procurement, that is unfortunately inherent in the congressional appropriation process. Cutting the defense budget would reduce our military capabilities rather than just removing waste

These words have a special significance this week. It took us awhile to get bin Laden, but it's not like there were others out there capable of pulling off such a mission - and willing to.