Monday, November 17, 2008

A message from makers of the new Bond

The latest Bond flick decided to throw in a few things against the war on terror. They accredited the credit crisis and the weak dollar value to the "war on terror." I was curious of exactly how much the war on terror was costing us and if we cut that out, would it would cover the $700 billion dollar bailout giving to the financial sector.

As it turns out, the War on Terror is a whopping 3.67% of our budget. That may not sound like a lot but when you consider our budget is in the trillions, you're looking at around $100 billion in funding. The guy who put that line in the movie was obviously wrong about $100b would be able to cover the $700b bailout or prevent the global financial crisis but he does make a good point. It seems there could be better areas for us to spend our money.

By the way, each year we pay $243.7 billion in interest alone on debt the government has acquired. That's 9.1% of our budget.

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