Wars : Killing the Economy

If you look at recent developments in foreign exchange (FOREX), you will find, in particular, the Canadian dollar continues to crush the U.S. dollar. The figure of 14.32 million dollars of debt finally reached in May 2011, a staggering 98% of GDP (Gross Domestic Product). To continue our military occupation in Iraq, U.S. taxpayers pay: $ 270 million per day, 8.4 billion dollars a month, a total of $ 600 million dollars spent and approved war spending, $ 200 billion for 2008 bringing the cumulative total to $ 800 billion.

Most of the factors contributing to increase the price band include the United States occupation of Iraq, Saudi Arabia being attacked by terrorists temporarily affected the supply of oil, speculative investments by financial investors. The financial crisis itself has affected all the major banks in the United States and many other places as about $600 billion dollars has already been spent on the war in Iraq. Such attacks against oil refineries in Saudi Arabia, for example, will have a devastating effect on the U.S. economy as well as in European countries supporting the U.S. policy towards Iran.

Total economic impact of the war in Iraq is difficult, at best, if not impossible, to obtain a precise set. The war has diverted the money, which probably would have gone to more productive sectors of the U.S. economy. One of the possible consequences is that the dollar is suffering from tremors because of growing concern about the direction in which America is going and how the political climate will impact the dollar value. Approximately 57% of this debt was the responsibility of the Bush years (2000-2008), with the exception of the cost of war in Iraq, while 43% of this debt is responsibility of the Obama administration.

Even if we paid all the loans in full, it would be pea-nuts, in comparison with the entire federal budget, not to mention the Iraq war budget (if you can call a Washington fiscal policy, budgeting). Moreover, we can divide the cash expenses to resolve the problem over a period of six years of rate schedules for the remaining loans in question. U.S. debt has now risen to nearly $14.4 trillion dollars approximating to $ 129 000 per taxpayer. Even worse, the Total Debt of the United States is a huge $55.3 trillion! Total interest on debt is around 3600 billion. In line with lengthy historical precedents, this debt has created much of the three major wars of finance, two in Iraq and one in Afghanistan.

Financial advisors says the U.S. should be careful with their spending in the future. Another political blunder that politicians themselves are not conscientious enough to see is rising inflation and the onset of recession. It is likely to be extremely difficult in the world for the coming years.

2 Responses to “Wars : Killing the Economy”

1. KEN BOB says:

   October 12, 2011 at 1:30 pm

   a million, billion or trillion, whos counting?

   Reply
2. Curtis says:

   October 13, 2011 at 4:30 pm

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