[WOSG]

"Second, we are running out of money. The U.S. deficit is $500 billion and rising. The merchandise trade deficit is headed toward $600 billion, putting downward pressure on a dollar that has been falling for three years. Nations with declining currencies do not create empires, they give them up."

Pat, what B*LL!! We ALL know that 80% of US Federal budget is non-military. that is right $400 billion on military and $1700 billion on the rest. If we have a deficit, it is due to domestic boondoggles, medicare and other things - NOT the fact that we are spending some small slice of our budget (and it is small, even the $80 billion was just 4% of the budget) in stabilizing Iraq.

BTW, *everything* Pat says about Iraq could be said about Afghanistan. Should we pull out there too and let AL Qaeda take it back?!?

[jpsb]

"Pat, what B*LL!! We ALL know that 80% of US Federal budget is non-military. that is right $400 billion on military and $1700 billion on the rest. If we have a deficit, it is due to domestic boondoggles"

Again I agree, but Pat is still right, the USA is broke and in debt, big time.

[Elkhound4]

running out of money may not seem to be a huge problem at the moment, but once mortage rates go back up above 8%, then the public will see that deficits do matter. Pat as usual is mostly right.

[Beenliedto]

Pat, what B*LL!! We ALL know that 80% of US Federal budget is non-military. that is right $400 billion on military and $1700 billion on the rest. If we have a deficit, it is due to domestic boondoggles, medicare and other things - NOT the fact that we are spending some small slice of our budget (and it is small, even the $80 billion was just 4% of the budget) in stabilizing Iraq.

I think you're putting words in Pat's mouth here. He wasn't arguing about what was causing the deficits and the related fall in the dollar.

He was only making the argumant that the dollar is in trouble. And that nations with currency problems typically don't go on empire building adventures.

[iconoclast]

Should we pull out there too and let AL Qaeda take it back?!?

Wouldn't make much difference ... they seem quite comfortable in their present abode with our new best friend, Pakistan.