Military Spending: 44% of tax revenues

9 posts / 0 new
Last post
Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
Military Spending: 44% of tax revenues

This is a good email I just got:

 

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

By Eric Margolis

Created Feb 7 2010 - 1:47pm 

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. 

The Afghanistan and Iraq wars ($1 trillion so far), will cost $200-250 billion more this year, including hidden and indirect expenses. Obama's Afghan "surge" of 30,000 new troops will cost an additional $33 billion -- more than Germany's total defence budget.

No wonder U.S. defence stocks rose after Peace Laureate Obama's "austerity" budget.

Military and intelligence spending relentlessly increase as unemployment heads over 10% and the economy bleeds red ink. America has become the Sick Man of the Western Hemisphere, an economic cripple like the defunct Ottoman Empire.

The Pentagon now accounts for half of total world military spending. Add America's rich NATO allies and Japan, and the figure reaches 75%.

China and Russia combined spend only a paltry 10% of what the U.S. spends on defense.

There are 750 U.S. military bases in 50 nations and 255,000 service members stationed abroad, 116,000 in Europe, nearly 100,000 in Japan and South Korea.

Military spending gobbles up 19% of federal spending and at least 44% of tax revenues. During the Bush administration, the Iraq and Afghanistan wars -- funded by borrowing -- cost each American family more than $25,000.

Like Bush, Obama is paying for America's wars through supplemental authorizations

_______

About author

Eric Margolis is a columnist for the Toronto Sun [1]. His web site is foreigncorrespondent.com [2].

 

Source URL (retrieved on Feb 7 2010 - 4:38pm): http://www.smirkingchimp.com/thread/26618

Links:

[1] http://torontosun.canoe.ca/

[2] http://foreigncorrespondent.com

[3] http://del.icio.us/post?url=http://www.smirkingchimp.com/thread/26618&ti... sending U.S. into ruin: Obama the peace president is fighting battles his country cannot afford

[4] http://digg.com/submit?phase=2&url=http://www.smirkingchimp.com/thread/2... sending U.S. into ruin: Obama the peace president is fighting battles his country cannot afford

[5] http://reddit.com/submit?url=http://www.smirkingchimp.com/thread/26618&t... sending U.S. into ruin: Obama the peace president is fighting battles his country cannot afford

[6] http://www.newsvine.com/_tools/seed&save?u=http://www.smirkingchimp.com/... sending U.S. into ruin: Obama the peace president is fighting battles his country cannot afford

[7] http://www.google.com/bookmarks/mark?op=add&bkmk=http://www.smirkingchim... sending U.S. into ruin: Obama the peace president is fighting battles his country cannot afford

[8] http://myweb2.search.yahoo.com/myresults/bookmarklet?u=http://www.smirki... sending U.S. into ruin: Obama the peace president is fighting battles his country cannot afford

[9] http://technorati.com/cosmos/search.html?url=http://www.smirkingchimp.co...

Subprime JD's picture
Subprime JD
Status: Platinum Member (Offline)
Joined: Feb 17 2009
Posts: 562
Re: Military Spending: 44% of tax revenues

Yet the US has a AAA treasury bond rating. USA will probably still have AAA rating even though default is occurring LOL

idoctor's picture
idoctor
Status: Diamond Member (Offline)
Joined: Oct 4 2008
Posts: 1731
Re: Military Spending: 44% of tax revenues

Big guns do strange things LOL.

docmims's picture
docmims
Status: Platinum Member (Offline)
Joined: Jun 17 2009
Posts: 644
Re: Military Spending: 44% of tax revenues

Why shouldn't the US keep a AAA rating while it defaults.  All Moody's other clients do.Embarassed

V's picture
V
Status: Platinum Member (Offline)
Joined: Dec 14 2009
Posts: 849
Re: Military Spending: 44% of tax revenues

Hey give Obama some slack. War = Peace just ask the folks in Sweden.

We need war. Our economy would be totally gone without it. Major corps would be toast, defense workers would be out of work,  factories would shut down, towns with military bases would be deserted. 

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: Military Spending: 44% of tax revenues

There is no longer any resistance to war by the corporate media, political parties or even religions.  Everyone is beating the war drum non-stop as we have become barbarians, the neocons have won.  The American public seems totally apathetic to wars, killing and torture as long as it doesn't preempt their favorite television viewing. 

You will never hear a discussion about inhumanity or the high cost of war in terms in blood and money.  The war on terror justifies any atrocities, costs and loss of our civil liberties that the governbank deems appropriate.  The U.S. and Israel are constantly threatening the world and together they sell more arms than the rest of the world combined.  Somehow, we now accept that Americans must kill and die for Israel's protection - non-stop.  Even the more libertarian leaning politicians like Palin and Schiff advocate taking out Iran for Israel.

The crazy part is that Israel has never signed on to any international nuclear agreements - in fact they do not even admit they have hundreds of nukes.  But yet, Iran is the bad guy even if they comply with IAEA requirements.  We are alienating ourselves from the rest of the world and sooner or later there is going to be a heavy price to pay. 

Yesterday, oil rich Saudi Arabia urged the international community "for taking a firm stance on the issue of Israeli threats against Lebanon, Syria, and the Palestinians."  We have had the luxury of watching the bombs and agony in the warmth of our TV room, potato chips in hand.  It all seems so remote.

That will soon change. Our economy is on the edge and if we keep threatening China, Russia, Iran, etc etc - we are going to find that WW3 and  nuclear strikes are just around the corner.  I think it would be a big mistake to assume that our rulers have any honor or restraint when it comes to killing.  They are willing to smash the world to bring on their new order.

Larry 

Sam's picture
Sam
Status: Bronze Member (Offline)
Joined: Jun 5 2009
Posts: 51
Re: Military Spending: 44% of tax revenues

I am so glad I found you people. Thank you Larry.

SteveW's picture
SteveW
Status: Gold Member (Offline)
Joined: Jan 21 2010
Posts: 490
Re: Military Spending: 44% of tax revenues
DrKrbyLuv wrote:

Our economy is on the edge and if we keep threatening China, Russia, Iran, etc etc - we are going to find that WW3 and  nuclear strikes are just around the corner.

Larry, China takes the long view...they can afford to wait.

 

xraymike79's picture
xraymike79
Status: Diamond Member (Offline)
Joined: Aug 24 2008
Posts: 2040
Re: Military Spending: 44% of tax revenues

by Sherwood Ross

America is “a nation that seeks war” and if it doesn’t change it could end up destroying itself, a law school dean warns.

Given all the wars the United States has waged, “It is preposterous but true that we do not see ourselves as a nation that seeks war,” writes Lawrence Velvel, dean of the Massachusetts School of Law at Andover. “We see ourselves as a peace loving nation” and that message is constantly drummed into the public by government and media.

Since World War Two, an indisputably necessary conflict, Velvel points out the U.S. has fought the Korean War, the Viet Nam War, secret wars in Laos and Cambodia, the First Gulf War, Afghanistan, and the Second Gulf War in Iraq. It has also invaded, bombed or “quarantined” Panama, Grenada, Cuba, Haiti, Somalia, the Sudan, Bosnia, Kosovo, Serbia and Libya, and has “declared” a global war on terrorists.

“If the United States were a man instead of a country, we would say he must be schizophrenic, or at minimum deeply mentally disturbed, to believe he is peace loving in the face of a record like this,” Velvel writes in “The Long Term View,” a journal of informed opinion published by his law school.

Velvel further notes the U.S. today spends more on military than perhaps all the rest of the world put together and definitely more than the next 21 highest-spending nations combined, including China, Russia, Britain, France, Germany, Italy, Japan, and Israel.

Not only do Americans always appear to be at war but they believe they fight only in good causes, he writes. “We believe we at all times fight only to do God’s work, and that we therefore have to fight or democracy, freedom, and economic affluence will be lost,” Velvel writes. He says truth cannot be permitted to intrude “because it would destroy our self image.”

“Certainly much of the rest of the world---probably most of the rest of the world---does not see us as peaceloving.” Gulf War II, Velvel notes, is having the opposite impact on public opinion the U.S. intended. “It has caused Muslims---the Arab ‘street,’ in particular---to hate our guts even more than they already did.”

Among the reasons USA fights so often, Velvel writes, are economic imperialism, a desire to remain preeminent, the glorification of war by the media, hubris, the stupidity of the nation’s leaders and the failure to prosecute them for their war crimes, and the inability to learn from past errors.

Writing of economic imperialism, Velvel reminds that in 1898 Americans realized the nation’s capacity to produce had outrun the domestic market’s capacity to consume and that a vibrant economy required overseas markets and coaling stations for the Navy warships that would protect overseas trade. “Nothing has really changed, except that today we call it globalization and defend it as bringing wealth to all when in fact it has worsened the dire poverty of many.”

Gulf War I, he writes, “was fought for oil, not to stop tyranny despite President Bush 1’s lying efforts to portray it as a fight for freedom in Kuwait---which is at best an autocracy.”

Velvel judges that many, if not most, Americans “are loathe to admit that we are an imperialist power, but it inarguably has been true since 1898. (Year of the Spanish-American War.)”

He goes on to warn that, “It is only we, not any enemy, who are going to end up crippling our own country through constant warfare if we do not get off the warmongering kick we have been on for at least 100 years.” Velvel quotes President Lincoln’s words on the subject that, “If destruction be our lot, we must ourselves be its author and finisher. As a nation of freemen, we must live through all time, or die by suicide.”

.......

http://atlanticfreepress.com/news/1/12739-why-is-america-in-so-many-wars...

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments