iraq

More

Sadly, it appears that the Republicans have successfully "starved the beast". The phrase refers to the Republican strategy of cutting the revenue stream (taxes) to the Federal government so the government can not afford new social programs. Why Americans would vote for politicians who refer to our government as a "beast" and actively campaign to destroy it is beyond me and is a topic for another time.

Today, the economic crisis created by deregulation of the financial services industry and an unjustified trust in free markets whose only goal is short-term profit has left the next President severely handicapped. There is now intense pressure on the revenue stream because of the nationalization of the banking industry (I never thought I would write that), endless spending on a war of choice in Iraq, and economic depression that will require additional spending to assist individuals and local governments. It will be difficult to nearly impossible to pass any meaningful healthcare reforms if it involves federal spending.

Amount the war in Iraq costs per minute, according to a new analysis by Nobel Prize-winning economist Joseph Stiglitz and Harvard’s Linda Bilmes, put out by the American Friends Service Committee. The study finds that this $720 million a day could buy homes for 6,500 families or health care for 423,529 children.

Source: http://thinkprogress.org/2007/09/22/500000-2