Donnelly, the defense analyst, disagrees. "The U.S. military just needs more," he said in an interview. A smaller military may struggle to surge in a future conflict as it did in Iraq and Afghanistan, he said.

Election As Arbiter

This November's presidential election may be the arbiter of which view prevails, Donnelly said. A Romney victory may mean a stronger support for defense at the expense of social programs, he said.

"The age of austerity is not a geologic age," Donnelly said. "It's not the ice age. It's a choice" and if voters choose to keep social entitlement programs that take up 15 percent of the U.S. Gross Domestic Product, "then, yes, it's going to squeeze other stuff out" including military spending.

The House-passed defense authorization bill is H.R. 4310.

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