Former Reagan economic advisor says current defense budget is much smaller than during other wars

Current levels of defense spending represent less than 5 percent of the nation’s gross domestic product (GDP), says Murray Weidenbaum, the Mallinckrodt Distinguished University Professor at Washington University in St. Louis. He says that the cost of today’s war pales in comparison to military outlays of about 35 percent of GDP at the peak of World War II; 15 percent of GDP for the Korean War; 10 percent for Vietnam and 6 percent for the Gulf War. More…

Weidenbaum memoir offers inside look at rise of Reaganomics

For nearly a quarter century, Murray Weidenbaum has said little about what it was like to serve as the first chairman of President Ronald Reagan’s Council of Economic Advisers, a role in which he was a primary architect of policies later known as “Reaganomics.” Now, one year after Reagan’s passing, Weidenbaum has issued a brief memoir detailing his years as the president’s chief economic adviser.

Political pundits Thomas Mann, Norman Ornstein to discuss 2004 elections, Nov. 4

Two of the nation’s most recognized political commentators, Thomas Mann of the Brookings Institution and Norman Ornstein of the American Enterprise Institute, will discuss prospects for the 2004 presidential election in a public forum from 7:30 p.m. to 9 p.m. Nov. 4 in the Laboratory Sciences Building. The discussion, which is free and open to the public, takes place on Election Day — exactly one year before the 2004 presidential elections.