Bette Noir has a good overview of Mitt Romney's VMI Speech, but I feel I have to mention one weird moment that had me scratching my bald pate in puzzlement:
The size of our Navy is at levels not seen since 1916. I will restore our Navy to the size needed to fulfill our missions by building 15 ships per year, including three submarines.
The veracity of this statement can be determined with a little bit of research. In terms of the number of ships, the current U.S. Navy has forty more ships than its 1916 counterpart. Of course, this raw number doesn't address the fact that the firepower packed by today's navy is dramatically greater than that of 1916's navy. Today's navy includes eleven floating cities of doom that would have been inconceivable in 1916- each of these carriers forms the nucleus of a sophisticated mini-fleet. Modern military technology allows our current navy to project power at a much greater range than that of the early 20th century navy.
Mitt's claim, characterized by CNN as pointless, represents another unforced error- it was a stupid claim, easily fact-checked. The fact that Mitt included it in an allegedly "major" foreign policy speech reveals the depth of his ignorance and the breadth of his arrogance- did he not think that someone would research this issue?
Personally, I think Mitt came across his skewed view of the navy while researching pop culture in a hopeless attempt to seem hip.