Authored by David Stockman via Contra Corner blog,
Like the case of Rome before it, the Empire is bankrupting America. The true fiscal cost is upwards of $1.o trillion per year (counting $200 billion for veterans and debt service for wars), but there is no way to pay for it.
That’s because the 78-million strong Baby Boom is in the driver’s seat of American politics. It plainly will not permit the $3 trillion per year retirement and health care entitlement-driven Welfare State to be curtailed.
The Trumpite/GOP has already sealed that deal by refusing to reform Social Security and Medicare and by proving utterly incapable of laying a glove politically on Obamacare/Medicaid. At the same time, boomers keep voting for the GOP’s anti-tax allergy, thereby refusing to tax themselves to close Washington’s yawning deficits.
More importantly, the generation which marched on the Pentagon in 1968 against the insanity and barbarism of LBJ’s Vietnam War have long since abandoned the cause of peace. So doing, boomers have acquiesced in the final ascendancy of the Warfare State, which grew like topsy once the US became the world’s sole superpower after the Soviet Union slithered off the pages of history in 1991.
Yet there is a reason why the end of the 77-year world war which incepted with the “guns of August” in 1914 did not enable the world to resume the status quo ante of relative peace and prosperous global capitalism.
To wit, the hoary ideology of American exceptionalism and the Indispensable Nation was also, ironically, liberated from the shackles of cold war realism when the iron curtain came tumbling down.
Consequently, it burst into a quest for unadulterated global hegemony. In short order (under Bush the Elder and the Clintons) Washington morphed into the Imperial City, and became a beehive not only of militarism, but of an endless complex of think-tanks, NGO’s, advisories and consultancies, “law firms”, lobbies and racketeers.
The unspeakable prosperity of Washington flows from that Imperial beehive. And it is the Indispensable Nation meme that provides the political adhesive that binds the Imperial City to the work of Empire and to provisioning the massive fiscal appetites of the Warfare State.
Needless to say, Empire is a terrible thing because it is the health of the state and the profound enemy of capitalist prosperity and constitutional liberty.
It thrives and metastasizes by abandoning the republican verities of non-intervention abroad and peaceful commerce with all the nations of the world in favor of the self-appointed role of global policeman. Rather than homeland defense, the policy of Empire is that of international busybody, military hegemon and brutal enforcer of Washington’s writs, sanctions, red lines and outlawed regimes.
There is nothing more emblematic of that betrayal of republican non-interventionism than the sundry hot spots which dog the Empire today. These include the Ukraine/Crimea confrontation with Russia, the regime change fiasco in Syria, the US sponsored genocide in Yemen, the failed, bloody 17-year occupation of Afghanistan, the meddling of the US Seventh Fleet in the South China Sea, and, most especially, the swiftly intensifying contretemps in Iran.
As to the latter, there is absolutely no reason for the...