EDITORIAL: The Price Of War? Obscuring the debate with fuzzy math.
(Washington Times)…Chris Duquette, May 9, 2008, pg. 21
Editorial provided a counter argument to economist Joseph Stiglitz, author of the book: “The Three-Trillion Dollar War”, that the war is the cause of our recession, contributed to the increase in the cost of war, and added to our national debt.
Editorial provides more facts on the debate: Rise in oil prices can be attributed to global demand and the weakening dollar. We are not in a recession as defined as two straight quarters of negative economic growth , and regarding debt, relative to an annual U.S. GDP of $14 trillion, the war is not unaffordable.