How Has the US Economic and Military Power Benefited the Average American in the Last 50 Years?
The United States, with its unparalleled economic and military power, has long been seen as a beacon of prosperity and strength. However, the question remains: has this power truly benefited the average American in the last five decades? Despite the immense financial and human resources committed to wars, has this expenditure translated into actual benefits for the everyday person?
Financial Burden and Opportunity Costs
Over the past 50 years, the United States has engaged in numerous military conflicts, with one of the most significant being the current continuous war, which has spanned 17 years. Unlike the Vietnam War, where a "war tax" was levied on every taxpayer, the current conflict has been financed almost entirely through national credit, rather than direct taxation. According to President Donald Trump, the total cost of the war is estimated at 7 trillion dollars, a figure corroborated by the Cost of War Institute at Brown University.
The staggering financial expenditure on war has led to significant opportunity costs. Had this money been spent on infrastructure, it could have provided millions of tradesmen and laborers with jobs for a decade. For example, 12 trillion dollars could have dramatically improved the infrastructure of the nation, reducing deficits, and ensuring a more resilient economy for future generations. Instead, we are now saddling our children and grandchildren with an enormous debt, and a decaying infrastructure system.
Safeguarding Savings and Infrastructure Neglect
During the early years of this war, there was a significant financial downturn in the global market, leading to tremendous upheaval. In times of uncertainty, many individuals, including governments and foreign investors, chose to invest in safe havens like the United States and its treasury notes and bonds. This influx of foreign capital, particularly from sovereign wealth funds, allowed the US to borrow enormous amounts of money.
Instead of investing this borrowed money in infrastructure, educational programs, or other beneficial projects, it was poured into military spending. While this expenditure has bolstered the nation's military power, it has had a profound and largely negative impact on the average American. The deferred maintenance of infrastructure and loss of jobs due to neglect have left the US in a weakened state. For instance, the crumbling bridges and roads could have been fixed with the funds used in the war, but now they remain unaddressed, constituting a stark contrast to the purported benefits of the military expenditure.
Current Living Conditions and Technological Advances
Despite the immense financial burden, the average American still lives in a similar manner to someone from the 1970s. Basic necessities such as transportation, shelter, and communication have largely remained the same. However, technological advancements like smartphones, microwaves, high Definition televisions, and modern firearms have enhanced the quality of life, albeit at the cost of national debt.
It is worth noting that while infrastructure and technology have their advantages, the underlying issues of economic inequality and the long-term burden on future generations cannot be ignored. The prosperity and benefits of American economic and military power must be fairly distributed, ensuring that the sacrifices of current and past generations are not squandered on unnecessary wars and financial irresponsibility.