In this article, Jeffrey Garten, Dean of the Yale School of Management, warns of the mismatch between America's economic policies and its “mushrooming overseas commitments.” In order to finance the global fight against terrorism and the arduous process of nation-building in places like Afghanistan and Iraq, Washington will have to drastically alter its current economic policies, says Garten, who held foreign policy and economic positions in the Nixon, Ford, Carter and Clinton administrations. He argues that President Bush's proposed tax cuts have to be cancelled, that caution must be taken to ensure that homeland security measures do not stifle productivity and competitiveness, and that Washington must pursue a multilateral economic policy. - YaleGlobal
The Cost of an Empire
Why America Cannot Afford its Foreign Commitments without Drastically Changing its Domestic Policy
Jeffrey E. Garten
YaleGlobal, 2 April 2003
Home and abroad: Can America ignore the growing deficit at home and be the world's policeman?
NEW HAVEN: No one can confidently predict how America's foreign policy will unfold in Iraq and beyond when the guns fall silent, nor how successful it will be. But if we take President Bush at his word, the U.S. will wage a relentless campaign to politically transform the Middle East, rid the world of tyrants possessing weapons of mass destruction, and fight global terrorism from the caves of Afghanistan to the jungles of the Philippines and Colombia. One thing then is certain: current economic policies will be unable to finance America's mushrooming overseas commitments.
posted on April 4, 2003 04:46:17 PM new
Since the polls show that those "anti-war" folks are the most educated and predominantly upper middle class then who would pay the taxes after we sent them off? Better to keep them here to continue to support the nation and send the economically challenged over there with a promise of 40 acres, a mule and some seeds. Heck that is how they settled Texas.
Most of those in favor of this war and the ensuing nation building have expressed hostility toward Mexico and complain about cost to America just from that country. I would like to know how they feel about the enormous financial burden that the United States will assume in order to pay for Iraq and Afghanistan and lord knows what else ....without much help from other countries?
posted on April 4, 2003 08:41:53 PM new
Naw,they wont wake up until that monthly ,S/S and Disability,check ceases to be mailed ,then it will be too late.
The war is not being compensated by Iraqi oil,
there is no pay back.
