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Imperial OverreachI remember in the nineties everyone was worried the Japanese were going to eat our lunch. Today the Chinese seem to be the American bete noire, at least when it comes to economic competition. (And yes, I am guilty of hyping this to a degree.) I also remember reading Kennedy's The Rise and Fall of the Great Powers I'm not sure when the collapse will occur. Was Iraq the high water mark of our 'empire of bases' or are there more to come? I don't know. Things that cannot go on forever don't. But, they can go on a lot longer than any of us imagine. But this budget turned my frugal inner-child sheet white: $3,800,000,000,000. And how much of it goes to the military? It may not be high enough to cause a collapse, but damn, that is a number I never thought I would see, inflation notwithstanding. And I cannot help but to wonder how much more there is to it in our off balance sheet partnerships with the Federal Reserve and Fannie and Freddie? The worst thing about this budget are our priorities. We need to spend. We need to run deficits right now. The problem is that it's all military Keynesianism and sinking money into off balance sheet problems. The money, as I dissect the budget, seems that it's all being pissed away. That kind of frivolity leads to imperial overreach. We simply cannot solve our problems so we export them, via war. Sean Paul Kelley February 1, 2010 - 12:31pm
( categories: Economics: USA | USA: Armed Forces )
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