RE: No money for Unemployment Comp or Food Stamps, but Plenty for Bombs and War
September 26, 2014 at 1:25 pm
(September 26, 2014 at 1:02 pm)Chuck Wrote: If you are going to borrow money, at least invest the borrowings where they would earn a return, like infrastructure and education. Bombs for us have been pure consumption that have not earned us positive returns since around 1953.
I think you are ignoring the seigniorage benefits bombs and the ability to make war give us. Without an arsenal the US would not be the issuer of the worlds reserve currency and I am sure you will agree seigniorage is a convenient source of revenue for us.