How will we be affected by Bush's war spending?

Question

I'm not very good at economics but I know if I blow all my cash and credit I'll be in a bad position. What will happen literally? Will I be out of a job? If someone would paint the macro picture that would be great! Thanks in advance!

Answer 1

The USA is essentially broke already. The current accounts defecit from which we pay interest on the debt is short on that requirment by several million a day. Think about this in terms of your household budget.

If you had to borrow money every day to pay your bills AND the intrerest on your debt how long would it be before you were too broke to buy a loaf of bread and a can of beans?

How long would it be before no one would to loan you money any more?

You won't just be out of a job. It will be way worse then you could ever imagine. Read the links below.

Answer 2

Money is nothing, but the power behind money is everything!
Bush is doing his war in Iraq for the purpose of positioning the banking industry in a position where it olds all the leverage against Americans, and therefore enslaved them even more! I was very shocked to see that the soldiers in Iraq, have to pay their own phone bill to called their family back home!! The government did not even provide this basic rewards to its soldiers dying for them there... I was like, wow, they really take them for their pawns...
The truth is that this spending will reduce to an all time low, the respect, the population was to expect from their leaders... Now, the only thing that this war is doing, is put all your money, and your tax into the hands of the banks, thus removing all peoples from America from the influences and controlled of the US governments (city, states and on). So after this war over, ALL Americans will belong to the corporations and the banks that have supported and financed the war in Iraq... But still the job is not finished, it remains other wars to do, as so far, they only spend half a trillion in Iraq, and they need at least 3 to 5 trillions more to purchase everybody in the US... So I guess we are about 3 years from the main objective...

Answer 3

A safe country is priceless. If you and your loved ones are concerned about money before you are concerned about another 9/11 (which I don't believe is the case) then you must think about priorities. A president doesn't want to have to send troops to other countries and deal with the nasty media that he KNOWS he will encounter. He's done this because he knows it is in the best interest of the country. Think of all the jobs that were created because of WWII, and all the technological advances we made. The war will barely scratch your pocket book. If we didn't do what we are doing now, the war that would have happened down the road might have hurt it quite a bit, as well as cost a ton more lives

Answer 4

There are three factors. One is the general cost. This is the cost if the U.S. is at war or not. The second factor is the added cost, but the third factor, which is added taxes from the profits, offsets this by 20% or more. I would say the net cost is 20-30% more than what the U.S. would be spending on the military, but that money comes back as jobs which increases money into the economy.

Answer 5

A predefined timetable is useless in war. What you're wanting is to have certain conditions met. It would be much more useful to talk about what we would consider victory in Iraq and use THAT as the basis for discussion. What good is setting a date for withdrawal? How does that help anything?

Answer 6

Depending on your age, Bush's runaway war spending will impact you in different ways.
Shortly after Bush leaves office, expect to see the worst economic depression in American history.
Further down the road, you will see most taxpayers in the 84% tax bracket (which means they'll have to earn about $100,000 and live on $16,000).
Your children, grandchildren, or certainly your great-grandchildren will have to wear gas masks to breathe fresh air and won't be able to find enough clean water to drink in many areas of the country, thanks to Bush's total disregard for the environment issues facing this Earth today as he squandered taxpayer dollars on this insane, illegal, unjustifiable, unconstitutional 'war'.
Because of the profound hatred and mistrust Bush created around the world with his bullying tactics and lies, you will see many more anti-American events, including attacks, threats or provocations on this nation.
Having put American taxpayers TRILLIONS of dollars in debt, America will not be able to satisfy its biggest creditors (China and Japan). Eventually (probably within 50 years or less) China, having become the world's new super power, will cut up America's 'credit card' and simply come over here and take whatever it wants: our oil, banks, coal, military hardware, natural gas, agriculture, weapons of mass destruction - even our women if there's a demand for western women on the international sex-slave trade.
And, because we'll be in the same position as Russia is today (unable to finance its military), there will be nothing we can do about it.
Tired of America representing only 5% of the global population while squandering 55% of the world's resources, other nations will "want their share" and will do "whatever it takes" to procure gasoline for their citizens' vehicles, energy for homes and industries, capital for expansion, and food or water. Thanks to America's greedy politicians, corporate raiders and special interests, this country will have become a replica of the Dominican Republic or Haiti, where there's a handful of the very, very rich - and the rest of us, the very, very poor. We will be too weak to resist even the poorest hostile takeover.
Just as avarice, debauchery, hubris, arrogance, comfort, and self-gratification eventually destroyed the great Greek and Roman empires, so, too, will be the path of the U.S.A.
Welcome to the future, America!
-RKO- 07/13/07

Answer 7

Every hting is gonna be affected by that non sense spending.I mean why all this mony? & goes where?.alot os money has been spended & no any good result comes.of course all of this money will affect constructional projects, future plans & develpmental affairs.In breif ,this money will be "gone with the wind".

Answer 8

I'm not sure what the military's budget has to do with your inability to manage your money. By the way, Congress appropriates all budgetary expenditures not the President.

Answer 9

Our kids and our kids, kids will be stuck with higher taxes and less money as aways and so will we.
Don't you love your tiny tax cuts now.
The rich don't have tiny tax cuts, their tax cuts are as large as a years pay for most of us.
Yey we got screwed.

Answer 10

Republicans will have to pay taxes