Time for a War Tax to Cover Our Debts

And limited lawmakers' ability to address downturn: Study

(NEWSER) - In the short term, wars might help the US economy—but the brief uplift is just a bubble, according to a report. In the long run, wars are a serious drag on the country's finances, the Institute for Economics and Peace finds after studying all major American wars since World War II. Whether essential or not, the wars raise debt and inflation and cut consumption and investment, the report notes, according to the Huffington Post . More»

War without taxes defies all of US history. Why are we allowing it?

(NEWSER) - As Congress tackles the latest "emergency" spending bill for Iraq and Afghanistan, bringing the total to more than $860 billion, Ruth Marcus notes in the Washington Post: "For the first time in American history, every penny of that amount will have been borrowed. For the first time, billions more will have been borrowed to finance tax cuts in the midst of war." More»

Bill Keller offers lessons from Iraq

(NEWSER) - As the drum-beating grows louder on Iran and Syria, Bill Keller looks back on Iraq and beyond. To avoid a debacle, there are five questions we should ask ourselves before entering a war, he writes in the New York Times :

1. "How is this our fight?" Are American interests directly involved, as in Afghanistan after 9/11? Are we supporting an ally? Or are we simply "promoting freedom"?
2. "At what cost?" While Libya was easily targeted at low risk to American troops, an attack on Syria would mean, in one military expert's view, "we'd be killing a lot more people." Then there's the cost of stretching troops and the financial implications of war.

'Gimmick' would pay for things like payroll tax cut

(NEWSER) - The congressional super committee isn’t any closer to a deal, but consensus is growing around one thing: Counting the roughly $700 billion the country intends to stop spending in Iraq and Afghanistan toward its total. The idea has budget experts enraged—one member of a bipartisan group called it “the mother of all budget gimmicks”—so the committee has at least decided not to count the $700 billion toward its $1.2 trillion goal, the Washington Post reports. More»

Overdue containers can cost $2,200 each

(NEWSER) - The Pentagon has racked up a few late fees for metal containers it has rented and failed to return on time. Nothing serious—just a little more than $720 million during the past 10 years. Used for storage, building material, and shelter in Iraq and Afghanistan, the 20-foot containers can generate more than $2,200 each in late fees. "These are the kinds of things that happen when people are asleep at the wheel," a defense analyst tells USA Today . More»