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Originally Posted by Cowperson
From Fozzie: I'm more concerned that the US will bankrupt herself over the Iraq war, the Afghan war and the extreme post-9/11 security infrastructure.
The USA hasn't applied nearly the resources, on a GDP basis, that it applied to any prior, significant conflict . . . . . 9% of GDP in Vietnam versus a little over 1% to Iraq as an example.
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Check out this podcast about the BRETTON WOODS agreement, the Vietnam war changed the way that the US 'creates' money...
Quote:
Originally Posted by Cowperson
In fact, the Iraq conflict has been called the most "affordable" of all wars America has ever been involved in, which is why its been fairly unnoticeable in the domestic economy and why GW Bush has been given a rather improbable five year string, far longer to wrap things up than one might have thought tolerable in a democracy. War tends to be unpopular, as it should be.
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True, this war has not cause the average american (military families excluded) to make many sacrifices.
The big problems yet to be accounted for in the USA economy are future government pensions, the astronomical costs of long-term health care for wounded veterans, Medicare and Social Security.
How about sub-prime mortgages?