The Finance Aftermath- Finances Past Due

"By 2009, funds for Iraq and Afghanistan fighting had totaled $1 trillion. Over the same time period, another $1 trillion had been added to core budget spending."

It seems as though many different house representatives have given proposals on how to tax the people to help begin paying for the war but, none of the plans have taken action. "In 2009, Rep. David Obey (D-Wis.), Rep. John Murtha (D-Pa.) and others in the House called for one. It would have established a 1 percent surtax on what each taxpayer owed, plus an additional percentage on returns where the higher-income payer owed $22,600 or more." At this point, any plan would help to being paying for the war. As a country, if we keep putting off these billions of dollars for future generations to pay back, our economy will most likely fail. Every small dollar counts when the total amount owed is sky high.“If we don’t address the cost of this war, we will continue shoving billions of dollars in taxes off on future generations and will devour money that could be used to rebuild our economy.” (Obey). Our economy is already in a tough spot, although it is trying to come back, but all of this money spent on the war could help piece together our economy bit by bit.

Another proposal made by Senator Al Franken "took another approach, introducing a resolution that would have required Obama or a future president to find funding at the same time he or she planned to send U.S. troops into combat situations." This plan makes plenty of sense. If the president is unable to find sufficient funding, then the country would have to face budget cuts or added revenue. By not choosing a plan and putting all of these finances for the war off, the government is making the billions of dollars spent on the war a problem for future generations. “Who will bear the financial sacrifice, the generation that has decided to go to war or its children and grandchildren?” (Franken). Later generations are going to be responsible for the finances of a war that they did not cause nor have any recollection of. If the Senate budget committee could decide on a resolution on how to pay back this massive amount of money, our country may be able to make a turn

around.

Source & Quotes:http://www.washingtonpost.com/world/national-security/were-past-due-on-handling-the-finances-of-war/2011/12/02/gIQAL0epXO_story.html