Economists and financiers fear that the Treasury will have to print more and more money to service that debt, ultimately devaluing the currency and triggering hyperinflation, similar to what Germany experienced in trying to repay its onerous foreign debts following World War I.
Never before has this country relied so heavily on deficit spending to pay for its conflicts. The consequences are expected to be ruinous for the long-term fiscal health of the U.S., but they go far beyond the economic.
In the name of the fight against terrorism, the United States is currently waging “credit-card wars” in Afghanistan, Iraq, Syria, and elsewhere. Never before has this country relied so