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"NATO serves no strategic purpose"

Rep. Barney Frank (D-Mass.) told The Huffington Post: "The liberal community's got to focus more on Afghanistan, Iraq, NATO. NATO is a great drain on our treasury and serves no strategic purpose." Lawrence J. Korb, a senior fellow at the Center for American Progress agrees: "We ought to rethink the whole idea of NATO."

But:

Korb estimates that approximately 20 percent of the baseline defense budget is NATO-related, resulting in about $100 billion in spending each year. (Pinpointing the exact number is tricky, however, since many of the assets the United States provides NATO are used for other purposes.)

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Pat Patterson on :

This is from the same congressman that let the two mortgage guarantee companies that are now owned by the Treasury run up over $1.6 trillion in bad debt and conceivably another $3.4 that probably is just as bad. And he's complaining about NATO?

David on :

One congressman did that? Wow, pretty neat trick, especially since Frank was in the minority party in Congress and had zero power until Jan. 2007 - when the housing bubble was already bursting. Once again, Pat believes everything he hears on Fox News.

Kevin Sampson on :

I never, ever thought Id say this about the loathsome Franks, but hes right.

Pat Patterson on :

As first ranking Democrat then as Chairman after 2007 Frank was in a unique position to block and then bailout both Fannie Mae and Freddie Mac as well as defend the CRA where most of the band loans that created the bubble occured. Even today Rep Frank has consistently spoke of creating new plans to boost the ability to further bail out bad loans and to create even more. And since I never watch Fox News you can save your insults for the JC students as they might be able to understand your lazy thinking and quick to label arguments.

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