In testimony before the Senate Banking Committee today, Ben Bernanke, Chairman of the Federal Reserve and nominee for a second term, called for cutbacks in entitlement spending such as Social Security and Medicare. In his best imitation of Willie Sutton, Bernanke said, “That’s were the money is.”
Interestingly enough, the Defense Department’s budget, along with the recent announcement by President Obama’s decision to send 30,000 more troops into Afghanistan was not mentioned as an equally large bank of money.
In addition to the $660 billion dollar budget
that the DoD and the Global War on Terror receive each year, we have fought two wars at a cost of $944 billion dollars over the past 8 years.
Bernanke is mistaken. Entitlement programs are not where the money is. The real money in America is not in helping people, but rather in killing them. We’ve had 8 months of debate over spending $800 billion over the next decade to provide health insurance to all of America. How much debate has occurred over spending more in a shorter time when we’re funding our multiple wars? We have to end these wars.