Barney: Cut Military Spending, Balance Budget

Since cutting social programs would take political courage, involve political risk and is essential to the future well-being of the nation, there's little reason to expect our politicians to rise to the occasion... even with the prodding of the Tea Party. So what will Democrats insist on cutting instead? Barney Frank outlines the argument on the CBS Early Show Monday:

Here's Niall Ferguson, the economic historian from Harvard, describing (again) how the slashing of military spending is a "pre-programmed reality of U.S. fiscal policy."