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I have recently become very interested in how much money we spend on the military, and have spent on past wars, and how much we spend on wars that we have to be prepared for. There are so many different opinions, allegation's, threats, papers, and countless articles on how much people either hate it, or how much we could be saving, or the few that encourage it and want us to spend more. We all know this country is in heavy debt and there's really no light as to us getting out of it and the military and war have a huge impact on that.
The United States federal government has spent or obligated 4.8 trillion dollars on the wars in Afghanistan, Pakistan, and Iraq. This total is beside many other expenses, such as the macroeconomic costs to the US economy; the opportunity costs of not investing war dollars in alternative sectors; future interest on war borrowing; and local government and private war costs . The current wars have been paid for almost entirely by borrowing. This borrowing has raised the US budget deficit, increased the national debt, and had other macroeconomic effects, such as raising consumer interest rates. Unless the US immediately repays the money borrowed for war, there will also be future interest payments. We estimate that interest payments could total over $7.9 trillion by 2053 . Spending on the wars has involved opportunity costs for the US economy. Although military spending does produce jobs, spending in other areas such as health care could produce more jobs. Additionally, while investment in military infrastructure grew, investment in other, nonmilitary, public infrastructure such as roads and schools did not grow at the same rate. Me personally think this is ridiculous. I understand we need to be protected and be prepared for anything that could possibly happen, but we still have terrorist's attacks, people get into this country very easily, and even when this money is all borrowed somehow these high up government people have nice cars, houses, and thousand dollar dinners. We never really look at how to save on war spending, all we do is look at how we could upgrade more, or who's making the next technology that will make progress faster. It all comes down to not having the money in the first place, which is America's case. I believe we need to focus more on less spending and stick with all that we have right now.
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