Tuesday, May 08, 2007
Second Most Expensive War - Send the Bill to the Kids
According to today's Washington Post, the wars in Iraq and Afghanistan are about to become the second-costliest in US history, after the Second World War.
And this time, the war bill is going directly on the nation's credit card. Unlike his predecessors, Bush is financing a major conflict without raising taxes or making significant cuts in domestic programs. Instead, he has cut taxes and run up the national debt....
Like all debts, however, the bill for Iraq and Afghanistan will eventually come due. While it is unlikely to cause economic upheaval, such as the devastating inflation that followed the Vietnam War, economists foresee substantial increases in government spending to rebuild the nation's exhausted armed forces, care for its disabled veterans and cover rising interest payments.
In other words, our children will pay the price. Read the whole article here: http://www.washingtonpost.com/wp-dyn/content/article/2007/05/07/AR2007050701582.html
And this time, the war bill is going directly on the nation's credit card. Unlike his predecessors, Bush is financing a major conflict without raising taxes or making significant cuts in domestic programs. Instead, he has cut taxes and run up the national debt....
Like all debts, however, the bill for Iraq and Afghanistan will eventually come due. While it is unlikely to cause economic upheaval, such as the devastating inflation that followed the Vietnam War, economists foresee substantial increases in government spending to rebuild the nation's exhausted armed forces, care for its disabled veterans and cover rising interest payments.
In other words, our children will pay the price. Read the whole article here: http://www.washingtonpost.com/wp-dyn/content/article/2007/05/07/AR2007050701582.html
