Inflation and War Finance

Discussion in 'Politics' started by KenH, Jan 29, 2007.

  1. KenH

    KenH
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    Inflation and War Finance
    by Congressman Ron Paul(R-TX)


    January 29, 2007

    The Pentagon recently reported that it now spends roughly $8.4 billion per month waging the war in Iraq, while the additional cost of our engagement in Afghanistan brings the monthly total to a staggering $10 billion. Since 2001, Congress has spent more than $500 billion on specific appropriations for Iraq. This sum is not reflected in official budget and deficit figures. Congress has funded the war by passing a series of so-called “supplemental” spending bills, which are passed outside of the normal appropriations process and thus deemed off-budget.

    This is fundamentally dishonest: if we’re going to have a war, let’s face the costs-- both human and economic-- squarely. Congress has no business hiding the costs of war through accounting tricks.

    - rest at www.house.gov:80/paul/tst/tst2007/tst012907.htm
     
  2. Terry_Herrington

    Terry_Herrington
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    Why should we expect the Bush Administration to do anything honestly, it was their exaggeration of the facts that got us into Iraq in the first place!
     
  3. Daisy

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    I had no idea that it was as much as that. :eek:
     
  4. billwald

    billwald
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    The money traders know it very well which is why the US Dollar is falling.
     
  5. Gunther

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    Ken, do you still speak to your dogs?

    Ken, do you still think of your dogs as your children?
     
  6. KenH

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    I don't know what those two questions have to do with this thread, but:

    Absolutely. :)

    Absolutely. :)
     
  7. LadyEagle

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    And I still speak to my cat. Gunther, I sincerely hope that wasn't intended to be a personal attack against Ken. Now back on topic, please.
     
  8. billwald

    billwald
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    The U.S. govt has never kept an honest set of books. Don't know if any national govt does.
     
  9. The Galatian

    The Galatian
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    I would never trust a man who didn't love and cherish his dogs. Like children, they depend completely on us, and reward us with free and unconditional love.

    Ken stands much taller in my estimation for the love he gives his animals.
     
  10. TomVols

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    Thanks for that substantive post, Gunther. :rolleyes: So you can't discuss accounting/finance, and you don't like animals. Got it.

    Back to the topic at hand. I've never liked the "off-budget" tactics that have become commonplace in the federal govt. These wartime accounting practices are certainly nothing new. LBJ and McNamara were adept at this as well during the Vietnam War.

    Billwald is right about our federal "books." The fact that the govt. can't even agree on the "books" (as referenced in the article I posted months back about the "Real" deficit numbers based on cash or accrual accounting shows that the govt needs to heal its practices. Anyone else thought it ironinc that Sarb-Ox got so much attention when the govt probably is worse at keeping its own books?
     

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