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 The financial costs of war  With increasing frequency, I’ve noticed that Barack Obama and Hillary Clinton make a point of emphasizing the extraordinary financial costs associated with the war in Iraq. The message must be resonating with voters because this morning, the president offered a detailed response to the charge. Indeed, I’ve been listening to Bush’s speeches on Iraq since the beginning, and I think this was the most detailed take on the financial costs of the war he’s ever made. “Some in Washington argue that the war costs too much money. There’s no doubt that the costs of this war have been high. But during other major conflicts in our history, the relative cost has been even higher. “Think about the Cold War. During the Truman and Eisenhower administrations, our defense budget rose as high as 13 percent of our total economy. Even during the Reagan administration, when our economy expanded significantly, the...
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