Bankrupting Ourselves to Death: How We’re Borrowing to Fight the Wars we’re Losing

Warmongers walk away with the purse leaving the rest to pay and Australia is a victim as well. (ODT)

Even if Washington stopped spending on its wars tomorrow, it will still, thanks to those conflicts, owe more than $8 trillion in interest alone by the 2050s.

Never before has this country relied so heavily on deficit spending to pay for its conflicts. The consequences are expected to be ruinous for the long-term fiscal health of the U.S., but they go far beyond the economic. Massive levels of war-related debt will have lasting repercussions of all sorts. One potentially devastating effect, a new study finds, will be more societal inequality.

via Bankrupting Ourselves to Death: How We’re Borrowing to Fight the Wars we’re Losing