Wednesday, November 12, 2008
Where will the money come from?
From Obama's web site:
More importantly: Where will the money come from?
Recession's a-coming, and Paul Krugman argues convincingly that we'll need a stimulus package of $700 billion, probably more. That's on top of the trillion-buck Wall Street bailout and the one (or is that two?) trillion-dollar Iraq war.
And then Obama wants a civilian "national security force" that is "just as well-funded" as the military. Right now, we're spending (according to this estimate) 52% of the national budget on the military. Doubling that amount will be a cute trick.
To put these expenditures into perspective, keep in mind that the gross product of the entire world in 2000 came to less than $44 trillion. That's the sum total of all goods and services.
Where will the money come from? Shall we borrow it? Will the lenders continue to lend?
The people who voted for Obama expected peace. Why, then, expand the military in peacetime? You could argue that economic stimulus took the form of military spending in the 1940s and 1950s. Back then, Hitler and Stalin scared the populace. Now...?
Barack Obama will rebuild the military for 21st century tasks:Why?
Obama and Biden will complete the effort to increase our ground forces by 65,000 soldiers and 27,000 Marines....
More importantly: Where will the money come from?
Recession's a-coming, and Paul Krugman argues convincingly that we'll need a stimulus package of $700 billion, probably more. That's on top of the trillion-buck Wall Street bailout and the one (or is that two?) trillion-dollar Iraq war.
And then Obama wants a civilian "national security force" that is "just as well-funded" as the military. Right now, we're spending (according to this estimate) 52% of the national budget on the military. Doubling that amount will be a cute trick.
To put these expenditures into perspective, keep in mind that the gross product of the entire world in 2000 came to less than $44 trillion. That's the sum total of all goods and services.
Where will the money come from? Shall we borrow it? Will the lenders continue to lend?
The people who voted for Obama expected peace. Why, then, expand the military in peacetime? You could argue that economic stimulus took the form of military spending in the 1940s and 1950s. Back then, Hitler and Stalin scared the populace. Now...?
Yes, the far left radicals of the 1940’s 50’s and 60’s finally get their man in the White House. But the economy is such that all their socialistic wet dreams will be thwarted because there is no money and because Obama is really a Republican hiding in liberal disguise. So it will be great fun to watch how all these folks react in the next few years to the reality that there is no money and to Obama’s risk adverse style and to his really being Bush lite. It will not be such fun to watch America destroyed and her citizens suffer so greatly.
Bert in Ohio
Bert in Ohio
was this proposal before or after he saw the latest National Intelligence Estimate?
Was it a dumb election promise, or does he know something that we dont?
Harry
Was it a dumb election promise, or does he know something that we dont?
Harry
US population growth has been greater than zero since 1980, a lot of 1990s births are ready to take their place in the world. Most military activity is very peaceful. Some who serve in the military only serve coffee or tea at meetings. Do you think Barry will ask Republican US Senators from states with Democratic governors to head something in his administration, so the Senate can get its super majority?
The why question is a good one, but the how is a little easier, I think. The forces in Iraq include something over 100,000 civilians, some unknown number of which are mercenaries. Then there are the Blackwater, KBR, and Haliburton sole source contracts pouring money into numbered accounts all over the world. Getting rid of that should more than pay for an equivalent number of uniformed men and women. The expenditures needed to provide material support for two wars are also enormous.
I think that the Obama team has also spoken of the need to prune the DOD budget to Clintonian levels. That probably is a little harder, and will require a more peaceful Afganistan. The rest of Obama's agenda depends on successfully achieving that goal.
I think that the Obama team has also spoken of the need to prune the DOD budget to Clintonian levels. That probably is a little harder, and will require a more peaceful Afganistan. The rest of Obama's agenda depends on successfully achieving that goal.
Point 2 at Obama's site is to "(r)estore the readiness of the National Guard and Reserves". Then, in more detail: "Obama and Biden will provide the National Guard with the equipment it needs for foreign and domestic emergencies." (my emphasis).
So serving abroad gets listed as the NG's top task in the coming epoch. Still, I guess they'll have the CSF at home.
Point 3 (out of 3) is to "(e)ngage our allies in meeting our common security challenges, with the gloss: "Obama and Biden will renew alliances and ensure our allies contribute their fair share to our mutual security.
Looks like more Madrids and 7/7s. France next? Sarko the sayan and stuff.
(Surely Victor O is protected. Was the release of the info in Le Figaro meant to fuel ethnic conflict in France? In any case, Sarkozy has never denied the allegation. Another angle is Sharon's statement prior to his, er, leaving office, that French Jews should all up sticks and go to Israel).
b
So serving abroad gets listed as the NG's top task in the coming epoch. Still, I guess they'll have the CSF at home.
Point 3 (out of 3) is to "(e)ngage our allies in meeting our common security challenges, with the gloss: "Obama and Biden will renew alliances and ensure our allies contribute their fair share to our mutual security.
Looks like more Madrids and 7/7s. France next? Sarko the sayan and stuff.
(Surely Victor O is protected. Was the release of the info in Le Figaro meant to fuel ethnic conflict in France? In any case, Sarkozy has never denied the allegation. Another angle is Sharon's statement prior to his, er, leaving office, that French Jews should all up sticks and go to Israel).
b
He’s a clever lil’ SOB. This military thing is just a way to shore up some support for re-election. The man is a technician. It’s all about keeping power. How can the Republicans claim you’re anti-military if you build up the military? He might actually wind up getting my vote in 2012. But we’ll see.
The current defense budget is about 20% of the budget. (This percentage includes the wars now.) That 52% number is over inflated. The DOD estimates are $568-583 billion to be spent in 2008 with an estimated 2.9 trillion total budget. In effect Obama will push that number much higher.
http://www.gpoaccess.gov/usbudget/fy08/fpaa.html
And as far as point 3 by “b”, I think Europe is too far gone. Once the Euphoria wears off, I do not know if they will fall for him. Europe tends to be blatantly anti American. I do not know if Obama, especially in this Bush-like incarnation, will change that. If he can push a strong militarism agenda in the guise of love and hope, he would have pulled of the greatest trick in the world.
However, the money thing is a problem. We just do not have it. The slide is continuing and I just don’t think he can stop it. If the economy collapses, it’s over.
The current defense budget is about 20% of the budget. (This percentage includes the wars now.) That 52% number is over inflated. The DOD estimates are $568-583 billion to be spent in 2008 with an estimated 2.9 trillion total budget. In effect Obama will push that number much higher.
http://www.gpoaccess.gov/usbudget/fy08/fpaa.html
And as far as point 3 by “b”, I think Europe is too far gone. Once the Euphoria wears off, I do not know if they will fall for him. Europe tends to be blatantly anti American. I do not know if Obama, especially in this Bush-like incarnation, will change that. If he can push a strong militarism agenda in the guise of love and hope, he would have pulled of the greatest trick in the world.
However, the money thing is a problem. We just do not have it. The slide is continuing and I just don’t think he can stop it. If the economy collapses, it’s over.
I'm not sure how I browsed from here:
http://riverdaughter.wordpress.com/2008/11/13/urgent-pine-ridge-needs-help/
- a very worthy appeal to help the Lakota people on the Pine Ridge Reservation in South Dakota, which links grabbed my attention for an hour or so, to here:
http://andrewsullivan.theatlantic.com/the_daily_dish/2008/11/vindication.html
Which is what it says, "Watch the contempt from Fox News for Peter Schiff over the past two years."
Mr. Schiff, as I hope you will see, was apparently warning people about the present financial crisis as long as two years ago, and being rewarded by contemptible idiots and liars on the air at Faux News, with ridicule.
Perhaps this is a little less shocking to people who watch TV regularly than to me, who has hardly watched any for decades, but wow.
I may have seen Mr. Schiff's name mentioned once before, and to my recollection it was at a site which is explicitly devoted to attacking my favorite economist.
I hope Mr. Schiff got some respect elsewhere; I haven't searched to see. Amazing video.
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http://riverdaughter.wordpress.com/2008/11/13/urgent-pine-ridge-needs-help/
- a very worthy appeal to help the Lakota people on the Pine Ridge Reservation in South Dakota, which links grabbed my attention for an hour or so, to here:
http://andrewsullivan.theatlantic.com/the_daily_dish/2008/11/vindication.html
Which is what it says, "Watch the contempt from Fox News for Peter Schiff over the past two years."
Mr. Schiff, as I hope you will see, was apparently warning people about the present financial crisis as long as two years ago, and being rewarded by contemptible idiots and liars on the air at Faux News, with ridicule.
Perhaps this is a little less shocking to people who watch TV regularly than to me, who has hardly watched any for decades, but wow.
I may have seen Mr. Schiff's name mentioned once before, and to my recollection it was at a site which is explicitly devoted to attacking my favorite economist.
I hope Mr. Schiff got some respect elsewhere; I haven't searched to see. Amazing video.
