Quote:
Originally Posted by Robbie
"1T+ cash on hand" What in the world are you talking about? WHO has this imaginary cash on hand? The economy collapsed for ONE reason: the crash of the housing market bubble The DEBT was run up by Bush. And yes, it's gonna bite us hard (and Obama just keeps adding to it  ) But the economy was ROARING...right up until the housing market collapsed and the banks started falling right behind it. There was and is no such thing as 1T+ in cash just lying around for a rainy day that was spent on the war. That was all borrowed money and/or the feds printing more money. And a lot of that money actually went right back into the economy paying all the companies that service our war machine...but that's just not the way we should want the economy to run anyway. |
The literally 'misplaced' billions of dollars in cash intended for 'contractors' in Iraq according to published reports. They spent more than 1T in Iraq. That 1T could have been better spent. They don't call China and borrow money on per requisition basis... so the money was on hand in the sense that it had been borrowed already and misappropriated for a war of choice when it could have been properly spent averting a depression or not been borrowed at all.
Money spent on the Iraq war did virtually nothing for our economy. You really think Haliburton and Blackwater stimulate our economy? A lot of the money will never be taxed, will be 'lost' overseas and will do virtually zero to spur any benefit of our own economy at home. Huge multinational corporations are not paying the stated tax rate on their profits. Look at what the UK is not getting involved in with companies like Starbucks trying to claim their entire UK operation is revenue neutral when talking to the government while saying they make 15% profit on their presence there when talking to investors.
http://www.money.cnn.com/2012/12/03/...tax-avoidance/
The Iraq war was unnecessary, poorly timed, badly managed and a complete economic waste of resources. Worse than that it put American lives at risk and the people who orchestrated it for personal profit (aka former Haliburton CEO Cheney) should be hung for treason.
