Monday, April 03, 2006

President Bush and the Screw-Up Tax

Do you know how much of our money is going to the military operations in Iraq? Nothing – zero. That’s all on the backend of a 9 trillion dollar debt that will be dealt with by our children and their children. Now, if the economic temple comes down, we will feel it, but as of right now, the borrowed money for the war isn’t hurting us a bit - in fact it’s contributing to our economy. I’m sure the 12 billion and counting that Halliburton received, finds its way to other Americans as their employees and shareholders spend some of the profits. So how has this cost us? It’s what I’m calling the President Bush Screw-up Tax.
Let’s start by acknowledging what more and more water-carrying conservative Republicans are beginning to admit: Iraq was a screw-up. The vast human dimensions of the screw-up are still not clear - for example, 9 more American soldiers were killed over the weekend - but one economic result was the impact on the oil supply. The world uses 80 million barrels of oil a day. Take a moment and ponder that. Supplies do not have to be affected too much to cause an extraordinary swing in price. The Iraq War cut the amount of oil Iraq produces. It was hoped it would be at 5 million barrels a day right now. I think it’s closer to 1 and the trend is downwards over the last few months, as the violence grows and the U.S. kisses off any reconstruction efforts. No one thinks Iraq will be pumping oil smoothly for several years to come.
Our mistake in the Middle East played a large part in the fact that oil is up by over 30 dollars a barrel, double what it was when this gang of chicken-hawk cowboys first rode into Washington. We’re paying in everything from the price of gas, to the price of food and it’s all part of this Iraq War. The uncertainty alone is costing us. Unlike the national debt however, this is felt now with real dollars from you and me. That’s why it is more like a tax. Of course, the White House likes to talk about the tax breaks they’ve given, which mainly went to the wealthy anyway, but they never bring up the immediate economic consequences of their failed war. They never bring up the Screw-Up Tax.
One other thing: Everyone focuses on the obscene profits our oil companies are making off this thing, but do you want to know who’s really getting rich? The oil-producing countries including Iran. I read that Saudi Arabia is making a billion dollars every two days. That means President Bush has spent our children’s money to make these countries even richer. When you count in what he’s done for the terrorist recruiting efforts it’s official: The only thing a lot of factions in the Middle East regret is that President Bush can’t serve a third term. And as for America? We’re stuck here paying the President Bush Screw-Up Tax, and wondering what the White House will dream up next.


At 3:05 PM, Blogger belinha said...

oi olha ta adc no meus membros
espero que tb me adc
e deixe seu comentario no meu blog bjs

At 3:09 PM, Blogger Bill McDonald said...

I think I recognized the word "blog" but - sorry - that's about it.

At 12:02 AM, Anonymous Anonymous said...

"espero que" means "I hope that"... and "comentario" is commentary... but I don't understand the rest.


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