The $1-Million Soldier

[tekisui]

Source: Canada.com/Financial Post

Back in 2002, as the United States was gearing up to invade Iraq, President George W. Bush fired his top economic advisor for overestimating the war’s cost at US$100-billion to US$200-billion.

Now the sum seems paltry compared with the US$707-billion tally for the conflict to date. Add in the war in Afghanistan and the total cost for U.S. taxpayers is set to top US$1-trillion by early next year, roughly the same price tag for the proposed overhaul of America’s health-care system over the next 10 years.

With no clear end in sight for either conflict, the cost could easily top US$2-trillion in the next several years, and hundreds of billions of dollars more for allies, including Canada.

The longer-term costs are bound to be greater as decades of medical care and disability benefits for veterans are factored in, as well as the expense of replacing military equipment.

While some war proponents argue the defense spending might boost the economy, the efforts to bring peace to Iraq and Afghanistan have ultimately been an economic drag.

“The only war that was good for the economy was World War II, when there was a huge infusion of government money,” said Michele Chwastiak, an associate professor of accounting at the University of New Mexico. “Building weapons systems is so highly technical and sophisticated now. These wars are not going to get women out of their households to go work on factory production lines.”

The public has never felt so little economic sacrifice in wartime. By refusing to raise taxes or cut elsewhere to pay for the wars, the United States is leaving the bill – including hefty interest payments on the borrowed billions – for future generations to pay.

And while a corporate cadre of military-equipment makers and private contractors are racking up huge profits, the conflicts are soaking up taxpayer money that otherwise could be devoted to job creation or paying down the ballooning deficit.

more: http://www.canada.com/business/fp/million+soldier/2331695/story.html

[gimama]

1. Here's a crazy idea..

as long as We "have to" spend the big bucks, why not just GIVE each active duty Service Member $1M each, maybe with the stipulation to spend 1/2 of it in their HOME Communities..(sigh)

[baldguy]

2. Want to win in Afghanistan?

Give each warlord $5 million each year to support the Kabul govt. It would be cheaper & more effective than the current strategy.

[RUMMYisFROSTED]

3. 20 $50K jobs. Times the 100K troops= 2M $50K a year jobs.