$1 Trillion in Defense Cuts? Big Deal.

Furthermore, international relations are as unpredictable as ever. With the death of Kim Jong Il, a sabre-rattling Iran, and shaky U.S.-Russia relations, the United States faces an uncertain and even threatening international atmosphere, which makes increased security attractive to some.

But Adams argues that no amount of money can mitigate uncertainty, adding that current threats do not loom nearly as large as those of past decades.

"The reality is that in terms of existential threats, we don't face one," says Adams. "I grew up during the Cold War. I was the generation that hid under its desk. ... We don't face anything like that today."

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