RE: [Futurework] The coming crash

[Karen Watters Cole]

I wonder how much of the US growth was military driven. Bill   Bill, I found it right after sending you that clearinghouse link.  Different writer here.  “Can’t wait” to see the Q3 numbers.     And while thinking about more money, less accountability, check out the National Priorities Project, one of the NOW sources @ http://www.nationalpriorities.org/, below this.  - KWC   Excerpts: Defense Spending Driving U.S. Economy By Glenn Somerville, Thu July 31, 2003 10:23 AM ET @ http://reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=3196574 WASHINGTON (Reuters) - The biggest surge in defense spending since the Korean War era helped drive U.S. economic growth ahead at a surprisingly brisk 2.4 percent annual clip in the second quarter, the Commerce Department said on Thursday. …"Growth in the second quarter was boosted by federal defense spending, by business investment in plant and equipment, and by consumer spending," Commerce noted.  Spending on defense, much of it to support the war in Iraq, shot up at a 44.1 percent rate -- the strongest since 110 percent in the third quarter of 1951 -- after falling 3.3 percent in the first three months of the year. NPP Bulletin -  November 5, 2003 **************************************************************************************************************************** Two days ago, the Senate approved an additional $87.5 billion in spending for war, occupation and reconstruction in Afghanistan and Iraq, clearing the way for final approval by President Bush. The bill voted upon specifically rejected earlier versions that would have required the President to submit to Congress a report on the projected total costs of U.S. operations in Iraq through fiscal year 2008.  To find out more about what's in the bill, go to NPP's November budget update at: http://www.nationalpriorities.org/BudgetUpdates/budgetupdate110403.html?email   The budget update also contains information about the recently released CBO report that may underestimate future costs of the war.  Again, to learn more, go to: http://www.nationalpriorities.org/BudgetUpdates/budgetupdate110403.html?email   Also, a brief reminder about our recent releases on the cost to selected states of repealing the estate tax -- see http://www.nationalpriorities.org/taxes/EstateTax/EstateTaxIndex.html -- and Bush's energy bill -- see http://www.nationalpriorities.org/Issues/Energy/EnergyTaxBreaks.html.    ****************************************************************************************************************************