"Even including Iraq/Afghanistan supplementals and other defense/intel spending scattered around the government, the total cost of all military spending is currently around 4% of GDP, compared to 14% during the Korean War, 9% during Vietnam and almost 40% during WWII." A comment made by a friend of mine.
I realize many of you would probably hold this same view and I thought I should share what I thought of this here:
I realize many of you would probably hold this same view and I thought I should share what I thought of this here:
"Budget Deficit" vs. "National Debt"
Suppose you want to spend more money this month than your income. This situation is called a "budget deficit". So you borrow. The amount you borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you don't have enough money to cover your spending (another deficit), you must borrow some more, and you'll still have to pay the interest on the loan. If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don't have any money left over for anything else. This situation is known as bankruptcy.
Each year since 1969, Congress has spent more money than its income. The Treasury Department has to borrow money to meet Congress's appropriations. The total borrowed is more than $8,000,000,000,000 and growing. Even when government officials claim to have a surplus, they still spend more than they get in. We pay interest on that huge debt.
The full aticle is here, the topic head being The National Debt is $9.2 Trillion!
Here is more on the truth about budgets and deficits (shocking!!!). Here is more also.
Here is another article, and below is a quote from it:
Quote:
| The $2.77 trillion budget plan emphasizes spending on the country’s fight against terrorism, while deeply cutting domestic programs. 141 domestic programs will be reduced. The Agriculture Department is hit with the third-largest percentage decrease in spending of any department. Reductions would come from cuts to rural development, forest service, conservation and research programs. |
You speak as if the economic issue is all about the war, it is not. This has been going on for sometime now and the war is just the final straw, the economy will collapse. I have news for you though, it won't just be U.S. that will go down, it is going to be a global collapse.
And this Mcain talking about staying Iraq for a hundred years is not conservative and going into Iran would be the end of our country.
2 comments:
Seretsi, I find that your blog Is well designed especially with the way you maintain a steady color scheme throughout your background and then into the actual posts you make. Your writing is done extremely well the only problem I could see is that you make use of allot of rather large terms and ideas that don't get broken down enough so It may cause confusion amongst your readers. Other than that I feel you are very well on track for a great well written designed blog.
I didn't know about Ron Paul until you mentioned it in class, so that is one good thing. Some of the text layout is also confusing to me, but I agree with your topic about the economy. John McCain doesn't have a good sence of judgement? The country is in such a bad state that I don't know how were are going to survive, and the next elected president has his or her work cut out.
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