Discussion on defense spending. You are watching live coverage here on cspan. How do we decide how much the u. S. Should spend . I know about the federal budget but i am more confident comfortable talking about things like Social Security, the opportunity tax incentive, state local Tax Deductions and the Defense Budget. I called my colleague at brookings and put the question to him. How much should the u. S. Spend on defense . He said i just finished a 20,000 word answer to that question. So here we are. You can read all 20,000 words on our website but he has promised he will not try to read them all here. I want to start with a question i cant answer, how much does the u. S. Spend on defense . Can we get they wind up . The short answer is we spend a lot. There are a lot of ways to measure this but lets start with a few things. This is a pie chart that shows how we spent the federal budget on the fiscal year. We spent about 900 billion on disk defense. 12 of all federal spending. You c
Spepding, military budget, the cost of reform and personnel pensions. The discussion with fiscal policy and military strategy researchers was hosted by the brookings institute. It is about an hour and 20 minutes. Good morning. Im director of fiscal Monetary Policy here at brookings. I want to welcome everyone to the event today. How much money for defense is enough . This event began with a call i got from someone i respect who said to me simply, how do we decide how much money the u. S. Should spend on defense . I know a little bit about the federal budget but im more comfortable talking about Social Security, low income home energy, the state and local tax itductions than the Defense Budget. So i called my colleague and he said i just finished a 20,000 word answer to the question. So here we are. You can read all 20,000 words on the website. But he promised he will not try to read all of them today. I want to start with a yegz i cant answer, how much does the u. S. Spend on defense.
Be near. Well give you the latest reporting on that potential deal between the studios and the writers. And the fed is Holding Rates Steady, signaling it will keep rates higher for longer. Deal of the day, cisco agreeing to acquire splunk. Both companies cite what they call complementary capabilities in a. I. And security. Splunks gary steele is going to be part of ciscos executive leadership team, reporting to chair and Ceo Chuck Robbins and both gentlemen are going to join us exclusively at 9 15 this morning in about 15 minutes, jim. I think this is terrific, and i will tell you why. What cisco tried to do for a long time is have a lot of recurring revenue, and splunk is nothing but recurring revenue. Cisco has tried to be a major factor in cybersecurity. We know its incredibly important. Splunk will give them the opportunity. They had a Smaller Division that does cybersecurity. Its not been that much of a winner, frankly. In the meantime, gary steele has taken the company, and david
Plan i shared with you is going into what we call a deep dive, so we are actually working with each one of the divisions and reviewing each individual project and have that dashboard, color coded dashboard to review and im aware where each project is. Thank you for the opportunity to present and i certainly look forward to working with all of you on Technology Projects for the city. So, im happy to answer any questions. Thank you, linda. Colleagues . I do have a few questions. So, thank so much, for presenting today. And it feels like you know, theres quite a bit of work that needs to be done, but im glad that we are moving towards a process of addressing it. I had, i wanted to bring up somewhat separate concern, although related to this audit, which is expense of our licensed Software Usage here in San Francisco and i know i bring this up all the time at the Board Meeting when we have licensed software contracts that come before the board. And its really not a criticism on each indivi
Effect relationship with the cost sharing is kind of broken. I think the primary negative effect of all this, d. T. Customers dont understand what they are paying for and according to our survey, they want to understand what they are paying for and want to choose what services they are getting from d. T. So another way that d. T. Recovers costs is through what ill call projectbased work orders. So, this is funding that is to Cover Service requests that cant be accomplished within the baseline recoveries. However, as i just said, no definition for whats in Baseline Services so its really up to the d. T. Division managers when they get a Service Request to determine whether or not it can be accomplished in their baseline budget. And so we reviewed these project work orders, and we found that less than half had any documentation that would describe the work effort or the schedule or the basis for costs, and even when that documentation was available, it was often missing such key informat