Defense Budget

Transcript

The Price of Liberty: Paying For America's Wars

Speaker: Robert D. Hormats
Presider: Lawrence J. Korb

As the fight between Congress and the administration about Iraq war funding rages, Robert D. Hormats, vice chairman at Goldman Sachs and author of The Price of Liberty: Paying for America's Wars, contends that borrowing to pay for the Iraq war and an unclear fiscal strategy for paying for a long-term war on terror threaten not only our financial security, but our national security.

See more in Iraq; Wars and Warfare; Defense Budget; United States

Must Read

National Journal: Al Qaeda Strikes Back

Author: George C. Wilson

Writing in the National Journal, defense specialist George C Wilson considers two key defense budget documents – the “National Defense Estimates,” known to Department of Defense (DOD) budget analysts as “the Greenbook,” and the “Selected Acquisition Reports,” the DOD-released estimates of past and future weapons costs – to conclude that the US government is spending more money in real terms on the Iraq war than was spent on the Vietnam war, despite the deployed military force being only one quarter the size of that used in Vietnam.

See more in Defense Budget; Iraq