As the great economist Adam Smith put it, Ch.3, Of Public Debts, “Were the expense of war to be defrayed always by revenue raised within the year … wars would in general be more speedily concluded, and less wantonly undertaken.”
Bruce Bartlett, a key member of George W. Bush's Treasury and a Republican no longer in good standing skewers current Republican demands for budget cuts without touching Defence spending. The U.S. currently spends 54% of worldwide defense spending. The res of the world spends 46%.
They are obviously not smart enough to learn from history. The Roman Empire eventually collapsed for a number of reasons. Two prominent ones were the cost of maintaining an Empire through military force while simultaneously lowering the taxes for the wealthiest Romans. Sounds familiar.
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