No, I'm not missing the point. Nothing in my post suggests that I am. Yes, the money is backed by loans, but those loans have to be repaid, and the money to do that could've been spent elsewhere. It's as simple as it gets. You spend money in one place, and you take money from another place to cover the deficit.FEOS wrote:
You're missing the point. It's money that wouldn't have been spent otherwise. Yes, the government could have increased spending dramatically, but that would only have increased the deficit...just as the Iraq War spending has. It's not money that would have been in the budget otherwise...it's not an offset from other programs. It is new spending. New deficit spending. It comes from borrowing from others. I never implied otherwise.mikkel wrote:
You're saying that as if the money used in the Iraq war materialised out of nowhere along with backing assets. It might be supplemental spending, but the bill doesn't just disappear. It's paid using money that could've been spent elsewhere.FEOS wrote:
None. Because if the Iraq War hadn't happened all that supplemental spending (which is nearly exclusively what funds the Iraq War) would never have been levied. People keep thinking that that money would have been spent elsewhere...it wouldn't have been spent at all.
Last edited by mikkel (2008-10-15 15:40:05)