Veteran Blames Recession On War Spending
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Updated: 1:41 AM Apr 25, 2008
Veteran Blames Recession On War Spending
Billions in American dollars have already been spent in the ongoing conflict in Iraq and Afghanistan. The head of a Colorado veteran's group reports a recent study shows funding current operations is the direct cause for the nation's economic downturn.
Posted: 10:39 PM Apr 24, 2008
Reporter: David Nancarrow
Email Address: dnancarrow@kktv11news.com
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Billions in American dollars have already been spent in the ongoing conflict in Iraq and Afghanistan. The head of a Colorado veteran's group reports a recent study shows funding current operations is the direct cause for the nation's economic downturn.

The veteran's report includes a survey of approximately 600 Colorado voters who think the war is crippling the economy.

Signs of protest came out in Colorado Springs Thursday. Concerns came to light.

"We have crumbling infrastructure. Health care needs aren't being met,” said Rick Duncan, a veteran and veteran's advocate.

Duncan is talked dollars to a small group of supporters, focusing on who gets what.

"This is about tradeoffs. You can spend it in Iraq, or have health care here," Duncan said.

The unbalanced, defense-to-home-grown-needs trade-off, according to the five page Colorado Veteran's Alliance report, boils down to recession.

"There has to be some effect in there, but to say that's the reason, we have no ability to identify that at this point in time," said UCCS economics professor Fred Crowley.

Crowley agrees the country is in recession, but believes the slowdown could have several causes. Increased demand for oil worldwide driving up gas prices and an impasse between those who lend money to those who will spend it.

"We want to blame someone. The current one is blamed on the capital markets and probably belongs there," Crowley said.

Crowley said Colorado Springs is an example of a community getting some benefit from dollars spent on over seas military operations, citing local jobs created at Peterson Air Force Base to support unmanned aircraft missions.

Duncan said economic relief is more about spending tax dollars for programs at home and rallying voices to make it happen.


Latest Comments

Posted by: Irritated Location: Colorado Springs on Apr 29, 2008 at 10:48 AM

This needs to end NOW! We are paying billions of dollars out of our pocket that we could be educating our children or helping OUR poverty!!
[ Report Abuse ]
Posted by: Cynical on Apr 28, 2008 at 11:49 AM

Chad, the number of soldiers lost thus far exceeds 4000, not 2000. Overall, I would have to agree with Bill Thomas.
[ Report Abuse ]
Posted by: Robert Location: C/S on Apr 28, 2008 at 05:16 AM

Jo tohn, and he who lives in glass houses shouldn't throw stones either.
[ Report Abuse ]
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