The United States, deeply in debt and relying on the central bank keep the fiat money flowing, will go even more deeply into debt to fight an open-ended war with no end in sight.
By Ryan McMaken @ Mises Economics Blog
Jason Ditz writes at Antiwar.com:
The Obama Administration is seeking to avoid any discussion of the massive costs of the new war on ISIS, with the White House pointedly refusing to provide any estimates on what the war has cost so far, or what it will cost in the future.
An unbudgeted war, the administration has so-far been paying for the airstrikes out of the Overseas Contingency Operations budget. That’s an $85 billion pool to draw from, but could end up being a drop in the bucket.
The United States, deeply in debt and relying on the central bank keep the fiat money flowing, will go even more deeply into debt to fight an open-ended war with no end in sight. The latest campaign, begun with no consultation of Congress, no law passed, no declaration of war, and no debate, will be waged at the discretion of one man, and of course, at the discretion of the military contractors and other crony firms who will make billions off the the extension of this war that’s been raging for 13 years at the cost of trillions. Meanwhile the taxpayers and holders of US dollars will continue to pay the price in exchange for nothing more than assurances from the regime that the world is being made “safe.”
It’s a fiat war paid for by fiat money. This time around, it will surely be an even more glorious and economical victory than the ones achieved in Iraq and Afghanistan since 2001.