Word: trillion
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...news that President Bush's war on terrorism soon will have cost the U.S. taxpayers $1 trillion - and counting - is unlikely to spread much Christmas cheer in these tough economic times. A trio of recent reports - none by the Bush Administration - suggests that sometime early in the Obama presidency, spending on the wars started since 9/11 will pass the trillion-dollar mark. Even after adjusting for inflation, that's four times more than America spent fighting World War I, and more than 10 times the cost of 1991's Persian Gulf War (90% of which was paid...
...many Americans may suffer a moment of sticker shock from the conclusions of the CSBA report and similar assessments from the Government Accounting Office (GAO) and Congressional Research Service (CRS), which make clear that the nearly $1 trillion already spent is only a down payment on the war's long-term costs. The trillion-dollare figure does not, for example, include long-term health care for veterans, thousands of whom have suffered crippling wounds, or the interest payments on the money borrowed by the Federal Government to fund the war. The bottom lines of the three assessments vary: the CSBA...
...coming from outside China," says Cheng Li, a China scholar at Washington's Brookings Institute. Li points out that, as it has been at pains to point out regularly in the official media, the government's reaction has been swift and decisive, including everything from announcing a 4 trillion renminbi ($587 billion) stimulus package, repeatedly lowering interest rates and taking substantive moves to bolster the property market and encourage consumer spending. "They've done everything right so far and very fast," says one western diplomat in Beijing. "Often it's been bigger and faster than other countries like Germany...
...would be to the U.S., simply because the Korean economy is so much smaller. Daewoo had about $50 billion in revenues. The entire South Korean gross domestic product in 1999 was only $450 billion. (GM, by comparison, had $181 billion in revenues in 2007, while U.S. GDP reached $13.8 trillion.) Daewoo seemed too big to fail...
...feeding of the right is a way to build cover for a progressive agenda. That may be true. Obama has enunciated some liberal foreign and domestic policy ideas, such as open-ended high-level talks with Iran, a rapid combat troop pull-out from Iraq and a possibly trillion dollar stimulus plan for the flagging economy: if he plans to roll them out soon, he might hope that one or two of his putative "advisers" will support him, or at least hold off on their attacks, because of his outreach...