Bush will request a $716 billion for defense spending and the global war on terror?

Question

Does he think we're made of money? (Totally aware that I sound like my father here.)

So, who do you think will hold our note? China again? Is debt of this size really good for our LONG TERM strategic position in the world?

What do you think of this number?

Answer 1

It's a horrific number, and in order to attract people willing to hold the notes, we will have to raise interest rates paid on those notes. This will bring on inflation, and devaluation of the dollar, which will require higher interest still, and we will spiral into Argentina/Brazil/post-WW1-Germany-style hyperinflation. personally I have a lot of cash in foreign hard currencies.

Answer 2

I'm not sure how you got that figure. Did you combine several department budgets? The budget this year, for the Department of Defense only allows $532.8 Billion, and it terms of the total federal budget for 2007 of $2.8 Trillion, it represents only a portion of the available money. For comparison, we spend more on Medicare and Social Security, then we do on defense.

Also you stated, that this would become debt. That is untrue. Defense spending is regulated by a budget (which along with President Bush, is regulated by congress, through the Senate and House Committee for Appropriations), it would come out of the income the US receives from Taxes, not a reserve or credit.

Answer 3

Its not right, the troups need to come home so we can try to recover some.

But this wont happen anytime soon. Bush will try to keep it going o he wont have to leave office until its over.

The american people pay into medicare when they are working. and to social security...... If you want to talk about money that could be saved, that would be war money and welfare reform DUH

Answer 4

Its worth it as long as Exxon, Halliburton and other chimp interests make record profits.

Answer 5

I wonder what percentage of that will land in Bush's and Cheney's pockets.