Essay: Don't Cash the Peace Dividend

The country, the Congress and the media are demanding a peace dividend. Papa Bush sternly refuses to give it to them. For that he is assailed as being out of sync, out of touch, overprudent, weird even.

Papa Bush is right.

There is nothing wrong with a gradual reduction of American forces in response to the Soviet eclipse. There may even be some merit to skipping one generation of weapons and investing instead in research and development of the next generation (as suggested by former Assistant Defense Secretary Richard Perle). Both of these approaches, however, rest on the premise that the...

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