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US to become bankrupt soon if they keep spending so much on war

An American economist Jeffrey Sachs criticized the United States for excessive spending on military operations around the world. He wrote about this in The Boston Globe.

Sachs notes that the main factor in the distribution of national resources is a choice between “war” and “peace”, between “guns” and “butter”.

ʺAnd the United States makes fundamentally wrong choice, wasting huge sums of money and undermining national security.

If our next president will not get out of expensive wars in the Middle East, even budgetary costs may undermine any hopes for a solution of our massive internal problems,ʺ Sachs said.

According to him, the US is suffering now from what a historian Paul Kennedy calls “an Imperial overreach”.

The American economist draws attention to the partiality of the term “empire” in relation to the United States, while emphasizing that it describes well how America is using its power now.

He explained that an empire is a group of territories, which is controlled by one and the same authority. Although the United States does not control too many foreign territories, but their armies are located in dozens of countries. In addition, Washington used the power to influence who would control these states.

Sachs cited statistics: according to the Ministry of Defence for 2010, 4999 installations belong to the country, 662 of which are located in the territories of other countries.

Annually, Washington spends about $900 billion on facility management and combat operations. It is roughly a quarter of all federal government expenditures.

Moreover, as Sachs noted, as a result, American wars almost never served the national interests of the state and it has become a truism.

He compared the US’s current military spending with USSR’s one in 1980s.

ʺThe Soviet Union bankrupted itself by wildly expensive adventures such as the invasion in Afghanistan in 1979 and by excessive military expenditures.

Currently, the US also invests too much money in defence industry and if they continue the war in the Middle East and enter an arms race with China, they might face a similar way of decline,ʺ the economist said.

"Thus, the United States is facing a choice: to continue implementing its “unipolar domination” project, despite failures in the Middle East and domestic economic issues or to bring its imperial ambitions to a halt,ʺ Sachs summed up.

Source: rusvesna.su

  • November 17, 2016 12:33 PM MSK
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