The Cost of the War in Iraq and bad economic times ahead

I was absolutely stunned to read the headline and the opening text of the article linked below. The Congressional Joint Economic Committee has estimated the cost of the Iraq war to be 1.6 trillion dollars. Wow. That goes so far beyond amazing and stupifying.

Interesting. In the same week that I read this stupendous article, I also read articles about the following topics:

1. U.S. home sales are in the dumper.

2. The U.S. dollar has--hard to believe--fallen yet again to a new low.

3. The Chinese military surfaced a sub in the middle of U.S. naval exercises.

4. A leading Walstreet fund manager has offered gloomy predictions regarding the possibility of a deep, deep recession beginning in the middle of 2008.

5. Oil has hit record prices per barrel and OPEC is ruling out the possibility of raising production levels to alleviate price pressures.

6. The trade deficit with China has hit yet another record level.

Considering all of these single line items, it really is not in the least surprising that the U.S. social security administration is not being given the budget it needs to deal with the current backlogs that are, make no mistake about it, absolutely devastating to the lives and families of disabled Americans.



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