Trump may turn out to be, as policy analyst Stan Collender warned, “the biggest deficit- and debt-increasing president of all time.”
By John W Whitehead and cross-posted from Counterpunch.org
“Why throw money at defense when everything is falling down around us? Do we need to spend more money on our military (about $600 billion this year) than the next seven countries combined? Do we need 1.4 million active military personnel and 850,000 reserves when the enemy at the moment — ISIS — numbers in the low tens of thousands? If so, it seems there’s something radically wrong with our strategy. Should 55% of the federal government’s discretionary spending go to the military and only 3% to transportation when the toll in American lives is far greater from failing infrastructure than from terrorism? Does California need nearly as many active military bases (31, according to militarybases.com) as it has UC and state university campuses (33)? And does the state need more active duty military personnel (168,000, according to Governing magazine) than public elementary school teachers (139,000)?”
— Steve Lopez, Los Angeles Times
Mark my words, America’s war spending will bankrupt the nation.
For that matter, America’s war spending has already bankrupted the nation to the tune of more than $20 trillion dollars.
Now the Trump Administration is pushing for a $4.4 trillion budget for fiscal year 2019 that would add $7 trillion to the already unsustainable federal deficit in order to sustain America’s military empire abroad and dramatically expand the police state here at home. Trump also wants American taxpayers to cover the cost of building that infamous border wall.
Truly, Trump may turn out to be, as policy analyst Stan Collender warned, “the biggest deficit- and debt-increasing president of all time.”
For those in need of a quick reminder: “A budget deficit is the difference between what the federal government spends and what it takes in. The national debt, also known as the public debt, is the result of the federal government borrowing money to cover years and years of budget deficits.”
Right now, the U.S. government is operating in the negative on every front: it’s spending far more than what it makes (and takes from the American taxpayers) and it is borrowing heavily (from foreign governments and Social Security) to keep the government operating and keep funding its endless wars abroad.
This is how military empires fall and fail: by spreading themselves too thin and spending themselves to death.
It happened in Rome. It’s happening again…