The $5 trillion warsRoundup
tags: Iraq, Afghanistan, war
This October marks 15 years since American troops entered Afghanistan. It was a precursor to the occupation of Iraq and is the longest military conflict in US history. Yet the trillions of dollars and thousands of lives expended in these wars have rated barely a mention in the presidential campaign.
Yet the cost seems invisible to politicians and the public alike. The reason is that almost all of the spending has been financed through borrowing — selling US Treasury Bonds around the world — leaving our children to pick up the tab. Consequently, the wars have had little impact on our pocketbooks.
In earlier wars, the government routinely raised taxes, slashed nonmilitary spending, and sold war bonds. Taxes were raised to pay for the Spanish-American War, the War of 1812, the Civil War, and World War I and World War II. Top rates of federal income taxes climbed to 70 percent during Vietnam and to over 90 percent during the Korean War. These policies were all part of an explicit strategy of engaging the American public in the war efforts. In sharp contrast, the George W. Bush administration cut taxes after the invasion of Afghanistan, in 2001 and again, in 2003, when we invaded Iraq. Most Americans pay lower taxes now than they did 15 years ago.
Congress has also managed to avoid painful budgetary choices. Since 2001, Congress has employed a series of so-called “temporary special appropriations” to authorize hundreds of billions of dollars for war spending, bypassing the regular spending process. Despite President Obama’s pledge to end such “gimmicks,” they have continued throughout his presidency. Thus the money appropriated for the post-9/11 wars did not have to be traded off against other spending priorities. The war appropriation also gets far less scrutiny than the regular defense budget. Consequently, the war budget has become a magnet for pet nonwar spending projects that senators and congressmen want to slip in under the radar. As a consequence, the reported war cost per troop deployed has ballooned from $1 million per year at the peak of the fighting in 2008 to $4.9 million today. ...
comments powered by Disqus
- Trump administration says joint UNC, Duke Middle East Studies program portrays Islam too positively
- What White Kids Learn About Race in School
- Frederick Douglass photos smashed stereotypes. Could Elizabeth Warren selfies do the same?
- Chronicling New York’s Muslim History
- New Documents Illuminate The University of Texas’s Secret Strategy to Keep Out Black Students
- Women Scientists Were Written Out of History. It’s Margaret Rossiter’s Lifelong Mission to Fix That
- Allen C. Guelzo Reviews Sidney Blumenthal's Latest Installment of His Biography of Lincoln
- What Reconstruction-Era Laws Can Teach Our Democracy: The NY Times Reviews Eric Foner's Latest Book
- Should historians read their own book?
- Cokie Roberts, Pioneering Journalist Who Helped Shape NPR, Dies At 75