Topic: Robert Hormats
All Content
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Opinion: US response to 9/11 contributed to causes of current debt crisis
The costs of military engagement in Afghanistan and Iraq account for well over one-quarter of the increase in US national debt since 2001. Financing wars and defense build-ups in this way is an historical aberration. Americans have typically paid for wars through higher taxes.
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What it might take for the US to remain No. 1
Economists call for greater thrift, less dependence on foreign oil, and a closer watch on Wall Street.
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U.S. dollar faces threats to its reign
War spending, trade deficits, and devaluation against foreign currencies weigh on the greenback.
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