THE BEST ARGUMENT FOR A MASSIVE INCREASE IN THE DEFENSE BUDGET: According to this article in the Washington Post, the military is short of much necessary materiel needed for further attacks on places such as Iraq.
I remember when Bill Clinton became President, a potent political argument for his tax increases was that we had enjoyed the propserity of the 80s without paying for it, and the bill was now coming due.
It now appears that we enjoyed the peace and prosperity of the 90s without paying for a large part of them, and the bill is now coming due.