War Costs are Bankrupting America
Military and intelligence spending relentlessly increase as unemployment heads over 10% and the economy bleeds red ink.
Obama’s total military budget is nearly $1 trillion. This includes Pentagon spending of $880 billion. Add secret black programs (about $70 billion); military aid to foreign nations like Egypt, Israel and Pakistan; 225,000 military “contractors”; and veterans’ costs. Add $75 billion (alone nearly four times Canada’s total defense budget) for 16 intelligence agencies with 200,000 employees.
The Afghanistan and Iraq wars ($1 trillion so far) will cost $200-250 billion more this year, including hidden and indirect expenses. Obama’s Afghan “surge” of 30,000 new troops will cost an additional $33 billion – more than Germany’s total defense budget.
The Pentagon now accounts for half of total world military spending. China and Russia combined spend only a paltry 10% of what the U.S. spends on defense.
There are 750 U.S. military bases in 50 nations and 255,000 service members stationed abroad, 116,000 in Europe, nearly 100,000 in Japan and South Korea.
Military spending gobbles up 19% of federal spending and at least 44% of tax revenues. During the Bush administration, the Iraq and Afghanistan wars – funded by borrowing – cost each American family more than $25,000.
Like Bush, Obama is paying for America’s wars through supplemental authorizations - putting them on the nation’s already maxed-out credit card. Future generations will be stuck with the bill. If U.S. taxpayers actually had to pay for the Afghan and Iraq wars, these conflicts would end in short order.