War is expensive, and it’s about to get more so if the U.S. government escalates its military efforts in Afghanistan. [...]Over the past eight years, the nearly $1 trillion cost of the military’s efforts in Iraq and Afghanistan was essentially charged to the national credit card.
Will it be different this time?
There’s some chance lawmakers may opt to pay the bill as it comes due, rather than letting the balance and interest accrue. It’s not the first time the idea has come up, but it may be the first time the idea is given serious consideration.
A big part of the context for deciding whether and how to pay for a buildup are the growing deficits that have become a political and financial albatross. The country’s accumulated debt is expected to rise from $12 trillion today to $21 trillion by the end of 2019.
Some lawmakers are pushing for a war tax. Peter Orszag, the White House budget director, took part in the latest war council meeting. And Obama is expected to raise the cost issue in his Tuesday evening address at West Point.























