Funding the War

Doug Henwood dhenwood at panix.com
Mon Mar 3 08:19:17 PST 2003


Jeet Heer wrote:


>Max B. Sawicky wrote:
>
>
>> Borrowing for the most part. Drain some oil revenue,
>> if they can get them pumping soon enough.
>>
>> They're not going to 'print money.'
>>
>
>Doesn't the depend on how much the war costs?

Of course, but barring a dollar crisis (which isn't impossible), the U.S. could probably fund a $200 billion war pretty easily through borrowing. I think people sometimes get carried away with their ideas of U.S. economic decline. And even if the U.S. is in economic decline, as Adam Smith said, there's a lot of ruin in a country.

Doug



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