Stiglitz: Budget plan a 'near suicide pact'

Bold words, but maybe true. The famous Stiglitz voices his distaste for the recent budget plan released by Bowles-Simpson. One of his concerns is that there wont be any reinvestment in the public sector, how this would REDUCE our deficit is a big question of mine. I do agree that reinvestment in infrastructure is vital for any economic system to grow, but public spending is just that, an expenditure, not a savings. It is also contradictory, Stiglitz thinks the defense cuts are unwarranted but then he goes and says we should decrease spending on military programs/projects?