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The Price of Liberty: Paying for America's…

The Price of Liberty: Paying for America's Wars

by Robert D. Hormats

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Hormats persuasively argues that post 9/11 financing is new and unprecedented in American history. U.S. leaders are ill-prepared to fight a long war against Islamists.

Previous American leadership wisely paid down the debt in a post-war environment in order to be prepared for the next conflict. To this end, in American history the Hamiltonian and the Jeffersonian options have played out over the years. In times of war Americans paid more but in peace lessened the debt.

In the current financial debates the U.S. leaders are not as prudent as they were in times past and this is the precarious situation that Hormats has identified. The long-suffering, crafty, and patient enemy can defeat the might of the U.S. The Islamists are just that threat during a time when U.S. leaders are not acting out of concern for the American tradition of caring for their posterity.
  gmicksmith | Feb 9, 2014 |
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Amazon.com Product Description (ISBN 0805082530, Hardcover)

In a bracing work of history, a leading international finance expert reveals how our national security depends on our financial security

More than two centuries ago, America's first secretary of the treasury, Alexander Hamilton, identified the Revolutionary War debt as a threat to the nation's creditworthiness and its very existence. In response, he established financial principles for securing the country--principles that endure to this day. In this provocative history, Robert D. Hormats, one of America's leading experts on international finance, shows how leaders from Madison and Lincoln to FDR and Reagan have followed Hamilton's ideals, from the greenback and a progressive income tax to the Victory Bond and Victory Garden campaigns and cost-sharing with allies.

Drawing on these historical lessons, Hormats argues that the rampant borrowing to pay for the war in Iraq and the short-sighted tax cuts in the face of a long-term war on terrorism run counter to American tradition and place our country's security in peril. To meet the threats facing us, Hormats contends, we must significantly realign our economic policies--on taxes, Social Security, Medicare, and oil dependency--to safeguard our liberty and our future.

(retrieved from Amazon Thu, 12 Mar 2015 18:05:31 -0400)

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Explains how America's leaders have held firm to financial principles developed by Alexander Hamilton to secure the nation and why current policies of borrowing to pay for the war in Iraq and short-sighted tax cuts threaten America's security.

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