Thursday, April 27, 2006
Since March 2003, the monthly cost of the war in Iraq has risen from $4.4 billion to $7.1 billion. That means the war will cost $266 billion than originally projected - and ultimately hit $1.2 trillion. Every American is writing a check to Uncle Sam for $727 to fund the Empire's Iraqi expedition - and it will get bigger.
Looking at it another way, Americans so far pay $46 million per Al Qaeda operative killed.
But what is America to do? As a declining empire, it seems that the only thing it has left to offer in a globalized economy is the soft warmth of her protection. That's why the Defense Department's budget continues to soar. In 2002 it was $310 billion which then swelled to a whopping $420.6 billion and growing, with every penny of it has been borrowed at 4% interest.
And that is one of the many reasons why t-bill is not risk free.