In April 1953, President Eisenhower delivered the first of…

““In April 1953, President Eisenhower delivered the first of two major speeches during his presidency that addressed the dangers of military spending. Speaking several weeks after the death of Soviet dictator Joseph Stalin, Ike offered what has become known as his “Chance of Peace” speech, telling American newspaper editors that an arms race with the Soviets would impose domestic burdens on both countries: Every gun that is made, every warship launched, every rocket fired, signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. The cost of one modern heavy bomber is this: a modern brick school in more than thirty cities. It is two electric power plants, each serving a town of sixty thousand population. It is two fine, fully equipped hospitals. It is some fifty miles of concrete pavement. We pay for a single fighter with a half million bushels of wheat. We pay for a single destroyer with new homes that could have housed more than eight thousand people. Ike’s warning about the cost of military spending fell on deaf ears.””

— James McCartney