New Cato video breaks down sequestration

The libertarian-leaning Cato Institute has released a new video on the truth about sequestration, the automatic budget cuts set to kick in this January under the Budget Control Act. In a presentation featuring the organization's Vice President for Defense and Foreign Policy Studies Christopher A. Preble, Research Fellow Benjamin H. Friedman and Senior Fellow Daniel J. Mitchell, Cato breaks down the upcoming sequester, which they argue may be flawed but is the only viable way of reducing the rate of government growth and Pentagon spending. The scholars argue that this reduction is still just "shaving" the defense budget long term, and the U.S. is still set to spend far more on the military than is necessary. The officials from the think-tank also present the case that bloated defense budgets and the idea that the U.S. is "the 'indispensable nation' responsible fore protecting everyone from everything," encourages free-riding by American allies, and makes the country "less safe abroad and less free at home."