Monday, July 11, 2011

Endless war policy ruined US economy

The United States' engagement in "endless wars" and unsustainable social programs are the main cause of the country's financial crisis, according to a professor at California State University."We burn massive amounts of resources invading countries all over the world," he noted.The US officially hit its $14.3 trillion debt ceiling on May 16,
up from $10.6 trillion when Obama took office in 2009.
US unemployment rises Again.Speaking from the White House’s rose garden Friday morning, President Barack Obama says America needs to get back to a place “where new jobs and opportunities are within reach,” but notes, however, that “we still have a long way to go.”The economic recovery is simply not gaining steam.(RT)

35% Of California Teens Can't Find Work This Summer.It used to be you could get a job as a high school drop out. Or you could hold a job while staying in school. And you could definitely find work over the summer.Not anymore.

A recent, detailed study by the Eisenhower Research Project at Brown University revealed that the war on terror has cost the US economy, so far, from $3.7 trillion (the most conservative estimate) to $4.4 trillion (the moderate estimate). Then there are interest payments on these costs - another $1 trillion.

That makes the total cost of the war on terror to be, at least, a staggering $5.4 trillion. And that does not include, as the report mentions, "additional macroeconomic consequences of war spending", or a promised (and undelivered) $5.3 billion reconstruction aid for Afghanistan.

Who's profiting from this bonanza? That's easy - US military contractors and a global banking/financial elite.

The notion that the US government would spend $10 billion a month just to chase a few "al-Qaeda types" in the Hindu Kush is nonsense.


Penny said...

actually the social programs would be sustainable if not for the endless wars.
The social programs would give a better "bang for the buck" so to speak.
For instance if healthcare were widely available Americans would be a healthier bunch.

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