One line that raised my eyebrows in President Obama’s speech tonight:

We’ll eliminate the no-bid contracts that have wasted billions in Iraq, and reform our defense budget so that we’re not paying for Cold War-era weapons systems we don’t use.

Why, what Cold War-era-weapons-systems-we-don’t-use might he mean? We’ll find out for sure by April, when the Pentagon budget is released. But if I was a defense contractor who wasn’t above rebranding my unused Cold War-era weapons systems as crucial for economic recovery, I’d put more money into my lobbying efforts.

Crossposted to The Streak.