Power of Story Send a Tweet        

Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 3 (3 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   No comments
Exclusive to OpEdNews:
OpEdNews Op Eds

The Iraq War is cheap compared to....

By   Follow Me on Twitter     Message Steve Consilvio       (Page 1 of 3 pages)     Permalink

Related Topic(s): ; ; ; ; ; ; ; ; , Add Tags  Add to My Group(s)

View Ratings | Rate It


Author 1868
- Advertisement -



People regularly complain that the war in Iraq is costing the US too much, but compared to the amount of interest we pay on the National Debt, it's short money.  


- Advertisement -

The Iraq War costs approximately $10 Billion a month, whereas interest payments on the National Debt are $19 billion amonth.
SInce March, the Fed has created an additional 7 Trillion worth of debt.  To get this into perspective, when Bush came to office, the National Debt was only $5 Trillion.  The monthly interest expense will be going way up!


Resist your impulse to blame Bush; bust must follow boom.  Clinton's inflated dotcom boom has created this bust.  Calvin Coolidge presided over a booming stock market and surplus annual budgets, too.  As soon as he left office, the ponzi scheme collapsed.  The same thing has happened with Clinton and Bush.  

- Advertisement -


9/11 and the war has made things worse, but you may recall that the economy was tanking before 9/11.  The Fed is trying to prop up the economy by printing more cash.  This Keynesian approach will not work.  It didn't work last time, either.


So what happened?  Blame the middle-class.  Social Security was created because speculation destroyed the economy.  But within a generation the middle-class was speculating again because 'Social Security wasn't enough to retire on.'


Sure, the fatcats on Wall Street deserve some blame, but they only hold the door open.  It is the players that keep the game going.  How many middle-class people don't have a 401K?  The interest that the government is paying is the same money that others are collecting.  In effect, we are paying more taxes so we can pay ourselves more interest.

- Advertisement -


Worse still, most people have a 401K and a mortgage simultaneously.  They are collecting interest with one hand and paying it with the other.  Orwell would call that financial doublethink.  So if you are wondering why war is peace in our political diplomacy, take a look in the mirror.  If you believe 2+2=5, then you are infected with doublethink.


Next Page  1  |  2  |  3


- Advertisement -

View Ratings | Rate It


Read more at www.behappyandfree.com about the math behind inflation. You can follow Steve's brainwaves at twitter: http://twitter.com/steveconsilvio

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Follow Me on Twitter

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Part 1: Personal finance and government regulations

Ron Paul is Wrong Paul

Neo-Transcendentalist Time: What's The Difference Between Neo & The Other "Matrix" Characters?

Did you get the memo? Osama Bin Laden won the war.

Mumbai and the glorious history of ugly revolutions

What is thought? A rebuttal of Atheism.