Thursday, June 30, 2011

Balancing America's Books

Yesterday I saw the press conference by U.S. President Barack Obama on the need for America to balance its budget and decrease its deficit. I thought he generally did a good job at the press conference, answering and deflecting tough questions with poise.

However, I have a hard time taking him seriously. For all the talk about America balancing its books and cutting its deficit, the rest of the world has a hard time believing that the U.S. is serious about the matter.

The Republican Party has refused to increase taxes to balance the budget and no one has publicly spoken about the elephant in the room. Take the press conference of Obama for example; for a press conference on balancing the U.S. budget, there is an elephant in the room neither he nor the press spoke of. The 3 wars America is currently involved in!

Currently America is involved in wars in Afghanistan, Iraq and Libya and the U.S. government estimate that these wars would cost around US$1.8 trillion. Most others consider that figure to be a gross underestimate.

Simply put; there is just no way the United States of America can balance its budget while they are fighting 3 wars at the same time. I’m not saying the wars are not worth fighting in; it’s just that no one seriously think America can balance the budget while throwing money in 3 different wars. It just can’t be done.

So for all the talk about tax increase and spending cuts, if America truly wants to balance its budget and cut its deficit, there’s a simple way to do that. Stopping fighting wars you can’t pay for!


Anonymous said...

The US does not need to stop warring, according to John Hardings, wars benefit the US Arm Industry tremendously.
Alternatively the US can print more money.

Ghost said...

The Arms Industry is just a small part of the US economy. Also, the wars America is in are not big wars that require giant orders of missiles and tanks (like in WW2). They are small wars where the enemy use hit and run tactics.