Historically, defense spending cuts have preceded increased international turmoil as America's global enemies sense a failure of will.

President Obama has created the image of an America under President Bush that routinely violated international law.

The story of Detroit's bankruptcy was simple enough: Allow capitalism to grow the city, campaign against income inequality, tax the job creators until they flee, increase government spending in order to boost employment, promise generous pension plans to keep people voting for failure. Rinse, wash and repeat.

Historically, professors have defended tenure as a way to protect their individualistic thought. But tenure can also be used as a club to wield against the powerless.

During the Cold War, America undertook serious military cuts only once: after the election of Richard Nixon, during the Vietnam War. The result: Vietnam fell to the Communists, the Russians moved into Afghanistan, and American influence around the globe waned dramatically.

First-quarter defense company earnings should continue to be strong, as procurement and research and development outlay will increase by an estimated 7 percent.