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The US Economy and the Costs of War

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This is an intangible thing, but I think it’s a good bet that many Americans are putting off investments, whether in a new house or a new car, or even in a new business venture, because of fears of a wider war in the Middle East, or of an economic collapse here at home, or because of another jump in oil prices. Many people may not even be aware that they are making such calculations, and yet they are.

In short, Baily is wrong. The Iraq War is certainly having a profound negative effect on the US economy, in both short, and in long-term ways.

The worst of these effects will show up when, a decade or more hence, as the oceans are rising, coastal cities are being devastated by storm surges, and croplands are being parched, we will look back at the lost opportunities to act decisively on climate change that were squandered by an administration obsessed with making war on a group of Third World nations, and with grabbing control of a resource—oil--that it should have been working hard to replace altogether as an energy source.
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DAVE LINDORFF is a Philadelphia-based journalist and columnist. His latest book is “The Case for Impeachment” (St. Martin’s Press, 2006, and now available in paperback edition). His work is available at www.thiscantbehappening.net

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Dave Lindorff is a founding member of the collectively-owned, journalist-run online newspaper www.thiscantbehappening.net. He is a columnist for Counterpunch, is author of several recent books ("This Can't Be Happening! Resisting the (more...)
 
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Thank you for writing such an insightful piece.&nb... by enid dennis on Monday, Apr 21, 2008 at 12:26:41 PM
Go for it.  ... by Dave Lindorff on Monday, Apr 21, 2008 at 12:36:35 PM
If this were so, wouldn't our president act ac... by Wolfie on Monday, Apr 21, 2008 at 10:31:55 PM
US Labor Against the War has produced a well-resea... by Kathlyn Stone on Monday, Apr 21, 2008 at 1:00:52 PM
Nice article, Dave.How much longer will the Americ... by Munich on Monday, Apr 21, 2008 at 1:51:01 PM
The real military budget, the one that includes al... by welshTerrier2 on Monday, Apr 21, 2008 at 3:29:33 PM
That was why I mentioned the $0.43 per dollar of t... by Dave Lindorff on Monday, Apr 21, 2008 at 3:59:22 PM
great article, Dave ... thanks ...... by welshTerrier2 on Monday, Apr 21, 2008 at 4:02:39 PM
The US economy is so intertwined with the Military... by August Adams on Monday, Apr 21, 2008 at 7:03:50 PM
The pinch on people's pockets, turned into a s... by boomerang on Monday, Apr 21, 2008 at 8:35:16 PM