|
So at this point, we've spent over $25 *BILLION* on this war (yet we don't have the money to fix our own electrical grids that just gave us the worst blackout in U.S. history).
Can we afford this war as it continues to grind on?
"Under the auspices of the American Academy of Arts & Sciences, a group of distinguished scholars has
prepared a thoughtful research paper that tries to calculate the cost. They've come up with a wide
range -- from $99 billion under the most optimistic assumptions to a worst-case total of $1.9
trillion.
If the price of war in Iraq starts escalating, however, to $200 billion, $400 billion, $1 trillion,
how does the government propose to meet the tab? By borrowing and sending the budget deficit into
the stratosphere? By cutting government spending on just about everything else? By rescinding tax
cuts and maybe levying a surcharge on the wealthy? By depreciating the currency with that old
standby and enemy of the people, inflation?"
Business Week-Christoper Farrell
|