‘Romney could spark global arms race’

“If Mr. Romney wins the presidential election, the United States could fall back to a time when the bulk of revenues goes to a small group of people and military programs are prioritized,” Dvorkovich stated at the Yalta European Strategy forum on Saturday.

“Unfortunately, military programs will play an increasing role in Russia as well, if this happens.”

The latest figures by the Congressional Research Service indicate that US arms exports reached USD 66.3 billion in 2011, representing a threefold increase compared with the previous year.

For the 2012 fiscal year, the US has also set aside USD 531 billion for the base military budget and USD 115 billion for overseas contingency operations. However, many military experts contend that real spending exceeds far beyond the figures.

Meanwhile, new US surveys by prominent American pollsters such as Gallup and Rasmussen suggest that US President Barack Obama has a slight edge over Romney.

The American economy continues to struggle under the Obama administration with the national deficit surpassing the $16-trillion mark and persisting high rates of unemployment.

The Republicans and their presidential nominee, however, have failed to present potential American voters with a viable solution to the nation’s economic vows, offering not much more than criticizing Obama’s economic performance.

The US political system is dominated by Democratic and Republican parties, refusing equivalent and even adequate exposure or funding resources to any independent parties or candidates.

ASH/HSN

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