To the Editor:Either spending reduces the output gap or it doesn't. If World War II lifted this country from a depression, surely the wars in Afghanistan and Iraq ought to be doing wonders for a little old recession? Obviously there's a flaw somewhere, draw your own conclusions.
A big reason for the huge deficit is the $1 trillion we have spent on the Iraq and Afghanistan wars. Stopping the wars now would take a large bite out of our deficit. Our children and grandchildren would be grateful.
Delmar, N.Y., Feb. 8, 2010
Tuesday, February 9, 2010
One of the biggest fallacies of economics is that war is good for an economy. The oft cited example is that of World War II and how it lifted this country from the Great Depression. Well, you can't have it both ways as this New York Times reader suggests:
F. at 12:49 PM