How are we going to pay for the Iraq war?

Answer 1

Money operates a little differently on a national level. Paying for a war isn't a big deal, although political pundits like to complain about "the money spent in Congress" or "passing the budget" issues. The fact is, money spent is accumulated as debt, and paid off as a percentage of our Gross National Product (GNP).

Those giant deficits that everyone complains about, and for which we occasionally see statistics reading "Your share of the national debt is $....... of dollars"...? bogus. It's nothing but political hay made by newscasters who don't understand how national debt works.

The Iraq war will be paid as part of a BUDGET that is authorized by Congress. That budget exists as accumulated debt, with foreign countries holding most of the debt. Those countries use the debt to leverage their own power in foreign markets, just as the U.S. does. It raises and lowers the value of various currencies in the world markets so that nations have more or less trading power over time. There are advantages and disadvantages to being in debt to others.

One liability of a large national deficit, is that the banks become reluctant to create new money (the Federal Reserve, or "The Fed") and your local bank becomes more reluctant to give you a loan for a new home or car. If the Fed DID authorize new money (banks create money as loans) then the money supply increases, and the risk of inflation begins to occur.

One advantage of having a large national deficit is that foreign nations enjoy trading with you. This is because your currency is worth less giving them more trading power.

Isn't economics fun? If you wanted to spend your living watching relative money values rise and fall worldwide, become what's called a "Forex trader". You can work from home and you'll eat, sleep, and breath money markets.

Answer 2

Seems alot of people worry about this...and of course the libs, democrats and other misinformed demagog's want to bash bush because its the "in" thing.
But consider this, We have had Hurricane Katrina, 911 and a war...or more apporpriately war part 2....and still the contry hasn't gone into recession, people are doing that badly for the most part and we cut the Deficit by 1/4 of a trillion dollars. That's alot of bad luck and hammering for one president. Could Bush have done things a little better or more ? I think so, but no one's perfect. You want to see real chaos, vote Hilary in for 2008 and hang on to your wallet. She's an out of control socialist.
We will pay for the war with tax dollars of course, but why aren't you angry at the waste of your tax dollars for much worse causes ? At least in Iraq, we hope to gane an ally in the region, and do a great service to an oppressed people, including rights for women.....someday..
Meanwhile we spend 14 billion on foreign aid........alot going to countries that hate us, we spent 2 million to Sherwin Williams for some paint technology.....for the most part its a senator's kickback to the company. Why are we subsidizing spinach growers ? what about the 20 million in pork projects the democrats tried to place as a rider on the budget ? Why does congress keep giving themselves raises ? For that matter, why does tax money pay off their law suits, legal fees, etc ? Why are the Demo's trying to expand the Schips program to cover more than just the poor...which is why it was created in the first place. And the families they paraded around crying about Bush's veto were and still are eligible under the old program rules ? Must needs to be done regarding the budget. Personally I'd vote for a 3rd part reveiw of it to strip all the fat that isn't needed. Government needs their feet held to the fires.

Answer 3

Doesn't matter.

That's like asking how you gonna pay for the baby.

You got it whether you want it or not.

Question is, how much is a free Iraq worth?

Yeah, I know it's "not your problem". Tough, you got it. Leave now, thing's will get worse.

So ya gotta finish.

That bein the case, why does it matter?

What's the price of keeping your kids out of a wood chipper?

Answer 4

Excellent question. Answer : the U.S. taxpayer, for many many many years to come. Bush and his family have made vast amounts of money out of the Middle East and the Iraq war has and continues to be a bonanza for all Americans and allies involved. The price will be paid by the taxpayers in money and the U.S. soldiers and !raqi people in blood. A huge and permanent price has also been paid in credibilty. America has lost the moral high ground and will perhaps never regain it. Thanks George, and even more thanks to the real culprits : ISRAEL !!

Answer 5

When Defense becomes a major concern of the DNC let me know. Do you care what cause the spend deficit. Care to cut the spending of the three largest departments?

Answer 6

$8.000 dollars per each habitant of The United States a year, that's how much it costs.
Thank you George you've done a great job, no one has stolen as much money as you and your family did, and destroyed a country worst than the Japanese in Pearl Harbor, you did it George!,Al Capone is waiting for you to congratulate you, among Hitler and others...in HELL!

Answer 7

Weren't we told that Iraq would pay for itself with oil revenues? Then again, we were told we'd be greeted as liberators.

Answer 8

Given that I paid 19K in income tax last year. I'm not worried about it. There are a lot worse places it could go.

Answer 9

Pretty easy. Use the existing military budget to pay for it. Slightly increase military budget if needed. That's what we've been doing and are still doing and will do.

I would suggest actually looking at the federal budget.

Answer 10

Same way we pay for everything else. Tax dollars and borrowed money.