This war has been expensive. We've almost doubled our national debt in just 7 years. Our economy is on the verge of collapse. The dollar is in free-fall. Our own banking industry is tapped out. Banks are building up capital to pay for the bad loans they've already made, so they can't loan it. What happens if our government has a bond auction and nobody wants to buy them? Everybody says that we've borrowed this much before, to finance the second world war. It's true. Sorta. During WW II the government ran up a huge amount of debt, but it had a population with enough cash available to absorb all of the debt. Our economy had annual growth rates of 25% in 1941 and 28% in 1942. Incomes were rising fast. By today's standards, taxes were practically non-existent. People were saving huge chunks of their income. Compare that with today, when most of us are so deep in debt that 10% of us are missing house payments, so we don't have that mad cash lying around this time.
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