Friday, February 6, 2009

Let's see: $855 billion for the bail-out and $860 billion for defense...

... and like Jethro ciphering out by the cement pond ("Uncle Jed, Uncle Jed, is naught plus naught another naught") ...

I'm wondering in the light of this story:

WASHINGTON — Ongoing combat operations overseas could cost the United States more than $860 billion over the next 10 years, further ballooning the defense budget, experts told Congress on Wednesday.

That total includes plans to dramatically draw down the number of troops in Iraq in the next few years, according to officials from the Congressional Budget Office.

Even with reducing the number of deployed combat troops to 75,000 worldwide, the CBO estimates that the Defense Department faces recurring personnel costs of at least $69 billion a year, coupled with other equipment repair costs.

Lawmakers on the House Budget Committee said those estimates will only increase the pressure on budget planners to make difficult choices in how to properly fund the department.

"Let there be no mistake: We’ll spend whatever we need to make sure our national security needs are met," said committee Chairman John Spratt Jr., D-S.C. "But now more than ever, with the budget that we have, we must make sure that we so do in a fiscally sound manner."

So if we add up the $855 billion for the bail-out, with the $860 billion for the defense budget, the $700 billion in TARP money, the several hundred billion for Fannie, Freddie, and AIG....

Oh: please note that's not the Defense Budget proper, it's just the cost of ongoing combat operations, and doesn't cover the regular $500+ billion regular Defense Budget, which the Defense lobbyists say needs to be raised as well.

Uncle Jed, I think that adds up to national bankruptcy.

Exactly where are we getting the money for all this?

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