National Defense Magazine recently published an article reviewing ASP’s American Competitiveness Day Panel Discussion. The article, entitled “Augustine: Decline in U.S. Competitiveness Creates Security Vulnerabilities,” quotes Dr. Michael Porter and Dr. Jan Rivkin of the Harvard Business School as well as ASP Board Member and former president and CEO of Lockheed Martin Mr. Norman R. Augustine. The principals of the panel spoke about the effect slipping American Competitiveness has on our national security. An excerpt is provided below:
The rising national debt and a growing pool of Americans no longer looking for work are part of the problem, according to a 2012 American Security Project report, “American Competitiveness: A Matter of National Security.” Studies conducted by the Harvard school yielded similar results to the ASP report, the professors said.
If the national debt were to rise even further, the defense industry would be the first to take a cut because it accounts for about half of the government’s discretionary spending, the report stated. “Looking weak and ineffective is the same thing as being weak and ineffective, particularly in the world credit markets where national governments are key players in shoring up the global financial system,” it said.
Norman Augustine, former president and CEO of Lockheed Martin, said, “I have come to a strong conclusion that if we have a weak economy, we won’t be able to afford a strong military.”
The full article can be found here.
ASP’s full report, “American Competitiveness: A Matter of National Security” can be found here.