Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Srexley who wrote (744541)	7/6/2006 12:41:26 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769668

Likely greatly in excess of One Trillion $ before all is said and done....

To: Srexley who wrote (744541)	7/6/2006 3:48:07 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769668

Others take advantage: ...America's Warfare/Welfare State Is Getting Very Expensive The War on Terror is an expensive war. NATO allies have cut their defense spending for terrorist activity, while the Pentagon's defense budget has skyrocketed since 9/11. Countries such as Britain, Canada, France, Italy, Poland, Spain and Germany have cut their active-duty forces, according to statistics compiled by the London-based International Institute for Strategic Studies. At the same time, the U.S. increased its ranks from 1.37 million to 1.42 million. Moreover, the U.S. share of GDP spent on defense has gone from 3% to 3.7% since September 11, 2001, while other NATO nations collectively have declined from 2% to 1.%, according to the Pentagon. Twelve years ago, NATO, excluding the United States, devoted 2.5% of GDP to defense. For fiscal year 2007, the U.S. will spend $440 billion on defense, a 50% increase over the 2001 budget. This amount alone explains the skyrocketing federal deficit, although we cannot forget that the U.S. has also dramatically increased its welfare state, especially the costs of education, Medicare, Social Security and prescription drugs. The national debt has ballooned to $8.4 trillion, and we are now spending more than $350 billion a year in interest on the debt - and it could increase faster now that the Fed has raised interest rates to over 5%....