Articles by Clifford A. Kiracofe
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Wars Leave Crumbling Infrastructure At Home for US
Clifford A. Kiracofe - Global Times, China,
16 Apr 2012
While politicians in Washington recklessly call for bombing Syria and Iran, they ignore the economic costs of failed US wars in Iraq and Afghanistan. In the past, the US paid for its wars through increased taxes and the sale of war bonds. The recent wars, however, have been paid for mostly through borrowing. Thus, there is an adverse economic impact with respect to the increased national debt, to the increased budget deficits, and to the upward pressure on interest rates. So how did the US get into its current predicament?
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