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What is horses and bayonets?
Barack Obama's flippant reponse to Mitt Romney's complaint during their third televised debate (October 22, 2012) that the U.S. Navy had fewer battleships than at any time since 1917. Obama's remark that the military has fewer "horses and bayonets, too" makes an analogy that measuring battleships (as opposed to aircraft carriers) is an archaic metric of military power, in much the same way that measuring "horses and bayonets" would no longer indicate an army's might. (NB: Marines are still issued bayonets.)
"The Navy has fewer battleships than at any time since 1917."
"The military has fewer horses and bayonets, too. We live in a different world."