Out of Control War Spending Is Destroying the U.S. Economy
The cost of the U.S. military and current war is detrimental to the economy and to families in America who are losing their loved ones. These wars are costing taxpayers trillions of dollars and the results are always tragic. Our greatest battle is here at home, yet our political leaders continue to ignore our dire economic situation.
Hundreds of billions of dollars are being given to the Department of Defense for wasteful military spending.
In the past ten years, the DOD was allocated an estimated $652 billion (using conservative and moderate estimates applying standard BEA deflators). Why aren’t we using that money to promote the economy? Our economy is failing and we see the evidence of this in the form of deteriorating infrastructure all across the U.S.
We are paying for wars with money we don’t have. In the history of the U.S. we paid for wars by selling bonds and raising taxes. Our unnecessary wars are currently being funded, almost entirely, by borrowing from foreign nations. These actions have inflated our budget deficits, which have increased the national debt and caused interest rates to rise.
Reckless military spending directly affects investment in infrastructure and other public assets.
During the 1950s through the mid 1970s, public investment in infrastructure was high, and we made our country the greatest of all nations. We took pride in building our roads, sewers, mass transit systems and utilities.
Look at what we are becoming–a nation that is falling apart at the seams! Excessive military spending is crippling our economy and it should be eradicated now–the future of America depends on it!