According to Defense Secretary Leon Panetta. Although the US spends more on its military and its empire then the rest of the world combined, Panetta warned on Friday that the United States would become a “second-rate power” if Congress and the White House fail to reach a budget deal that would avoid an extra $500 billion in military budget cuts over the next 10 years. “We are the world’s most powerful military, and we use that to promote peace and stability in the world,” Panetta said. “It would be a shameful act of irresponsibility if Congress just stood to the … Continue reading The US Will Become a Second Rate Power