Tuesday, November 13, 2007

Debt Without End

Anyway you add it up, the wars in Afghanistan and Iraq have already cost the United States about $1 trillion for the period from 2002 to 2008. Estimates for the period between 2003 and 2017 will easily top $3 trillion if the war continues as the present administration intends.

When Bill Clinton was halfway through his presidency, the United States had a surplus of $3 trillion for his period in office. When asked about what to do with that surplus, Clinton said, "Fix Social Security first." The Republicans applauded this wisdom and then ignored it. As was true in the Reagan years, the policy of the far right when it regained control was borrow and spend.

The horrific debt that now bears down upon us will be used in the future as an excuse for why we can't fix social security, why we can't hire more teachers, and why we can't rebuild the levies that would protect the houses of the poor.

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