Finally, the retirement of the Baby Boom generation makes references to past budgetary levels largely irrelevant.

FORBES: Senate Democrats Unveil Their Own Budget Proposal; Push For Nearly $1 Trillion In Additional Tax Increases

There was deadlock between the various institutions at the end of 2010, with MEPs and member states divided on the levels of any budgetary increase and on calls for an introduction of EU own resources.

BBC: MEPs reject 'across the board' budget cuts

But the first two years of the new administration proved to be the budgetary equivalent of an Indian summer for the defense sector, with military outlays actually exceeding the highest levels of the Bush years.

FORBES: The Defense Industry's Winter Of Discontent