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That is because it was twice as large as needed for defense, and reduced our debt in the process.
Bush doubled spending to twice the amount the needed for defense, and increased our debt in the process.
I guess when our debt is a big enough for people to become concerned about it, we will again cut the waste from our military spending.
Clinton gutted the Military and made us less able to do what we need. You can't cut the military in half and expect to be able to fight a war.