Thursday, August 10, 2006

Cost of Iraq war

The current issue of the Milken Institute Review has an intricate cost/benefit analysis of the costs of the war in Iraq.

It is high, say the authors, Scott Wallsten and Katrina Kostec.

Let me say that Mike Milken is one very smart man who engineered a highly beneficial financial revoluiton ("Junk Bonds" or "High Yeild Bonds" ) Those monies helped start some of America's great new companies like MCI and Turner Broadcasting.

The article has complex formulations (Iraq Body Count Database Project; the meaning of "statistical injury" as calculated by the National Highway Traffic Safety Administration , etc. )

There are pictures of multiple amputees and , coffins and skulls.

Tragic? Surely.

But, while it is not polite to say so, these brave young men and women all volunteered.

But it goes back to the 'Sixties mantra of "America should not be the world's policeman."

OK. But if not, us, who?

Can we live in an anarchic world and not suffer from it?

I think not.

It's been almost 5 years since 9/11 and we've kept terrorists out of America --- somewhat miraculously.

We have been in very few serious conflicts since WWII: Korea, Vietnam, Iraq I and Iraq II. There are about 50 wars going on at any moment. And the world has been, relatively, peaceful. Democracy and human liberty are advancing.

Our GDP is running at about $13 trillion dollars per year. The deficit is much lower than expected.

We can pay the tarriff. And we should.



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