Eric Margolis: Wars sending U.S. into ruin

[marmar]

from the Toronto Sun:



Wars sending U.S. into ruin
Obama the peace president is fighting battles his country cannot afford

By ERIC MARGOLIS, QMI Agency
Last Updated: 5th February 2010, 1:25pm


U.S. President Barack Obama calls the $3.8-trillion US budget he just sent to Congress a major step in restoring America’s economic health.

In fact, it’s another potent fix given to a sick patient deeply addicted to the dangerous drug — debt.

More empires have fallen because of reckless finances than invasion. The latest example was the Soviet Union, which spent itself into ruin by buying tanks.

Washington’s deficit (the difference between spending and income from taxes) will reach a vertiginous $1.6 trillion US this year. The huge sum will be borrowed, mostly from China and Japan, to which the U.S. already owes $1.5 trillion. Debt service will cost $250 billion.

To spend $1 trillion, one would have had to start spending $1 million daily soon after Rome was founded and continue for 2,738 years until today.

Obama’s total military budget is nearly $1 trillion. This includes Pentagon spending of $880 billion. Add secret black programs (about $70 billion); military aid to foreign nations like Egypt, Israel and Pakistan; 225,000 military “contractors” (mercenaries and workers); and veterans’ costs. Add $75 billion (nearly four times Canada’s total defence budget) for 16 intelligence agencies with 200,000 employees. ............(more)

The complete piece is at: http://www.torontosun.com/comment/columnists/eric_margolis/2010/02/05/12758511-qmi.html

[PDJane]

1. Margolis is the only reason to read that rag........

and there's no reason at all to read the National Post. It's sheer propaganda, first page to last.

[marmar]

2. You're right.....It is a rag - I only read Margolis online - I'd never buy it.

The National Post isn't fit to line a birdcage.

[defendandprotect]

3. Purposeful bankrupting of the Treasury by the right wing . . . !!

[timeforpeace]

4. Obama isn't right wing. Yet.

[defendandprotect]

7. Three years of Reid/Pelosi financing Bush's wars . . ?? hmmm.....

And Obama escalation in Afghanistan -- actually second one, isn't it? -- hmmm....???

I think we're close!

[timeforpeace]

8. But what does this have to do with the OP?

[provis99]

5. even if we had no military, we'd still be ruined.

the uberclass in America would make sure the other 99.9% of us are reduced to feudal servitude. Ironically, joining the military is one of the few ways us peasants can escape perpetual poverty, and get government healthcare.

[yurbud]

6. and Canada is closer to the Russian bear!