$20-Trillion War Costs Bankrupting US

Posted: February 9, 2011 in US News, War on Terror

The Daily Bell
February 9, 2011

Secret China war plan: trillions in U.S. debt … Yes, Americans love war. Yes, wars cost money. And pile on debt, new taxes … Back in the ‘40s, WWII consumed 57% of our GDP. Today, war eats up about half America’s budget. We’re sinking under Iraq war debt. Nobel economist Joseph Stiglitz estimates Iraq at $3 trillion, with $2 trillion for future costs, like VA medical. The Afghan war, maybe another $3 trillion. Plus endless terrorist threats. Future wars are “planned” years, even decades in advance, strategies based on Pentagon-Rand war games. America talks peace. But deep inside our collective brain is a dark monster: We’re little kids who love playing war. – Paul B. Farrell/MarketWatch

Dominant Social Theme: Out of control spending must be examined and admitted so that the task of protecting the Homeland can be updated and maintained.

Free-Market Analysis: Paul Farrell, a columnist for MarketWatch (see above), reports what has been presented here as well: Perhaps 50 percent or more of America’s annual, governmental spending is war-and intel-related. Add up related veterans’ benefits, foreign and domestic bases, corollary and direct spending and the total closes in on US$1.5 trillion (not the US$700 billion that is often presented as the cost).

The wars in Afghanistan and Iraq (continuing) have cost, therefore, an unfathomable US$6 trillion. If overall military spending amounts to some US$1.5 trillion then during the decade that America has waged its latest serial wars, its putative leadership has spent approximately US$20 trillion on waging war or preparing for it. Add in another US$20 trillion or so that some pundits have estimated that the US in particular has printed “out of thin air” to reliquify its ruined dollar reserve economic system and the total arrived at is US$40 trillion. This sum then, still rising, represents resources that are basically commandeered by the so-called public sector to support the nation’s (and the West’s) solvency and superior firepower.

Read Article Here

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s