Article: Bob Hormats on Paying for War

I have permission to distribute an Outlook Section piece that appeared
in The Washington Post on Sunday, May 6, by Robert Hormats, that's
based on his new book, "The Price of Liberty: Paying for America's
Wars." Funding the war in Iraq is currently the hottest topic in
Washington, and Hormats' book puts him at the center of that debate.

You can view the piece at:
http://www.authorviews.com/authors/hormats/oped.htm

For information about Hormats' upcoming blog tour, see the bottom of
this message.

Bob Hormats, an investment banker, is Vice Chairman of Goldman Sachs
(International) and an expert in trade and finance. He's no slouch at
politics and national security matters, either. Hormats has served
under four U.S. Presidents, including work as a Senior Staff member on
the National Security Council Staff for Henry Kissinger, Zbigniew
Brzezinski, and General Brent Scowcroft.

The piece I'm distributing is a critique of how the current leaders in
Washington are financing the Iraq war and the war on terrorism.
Hormats sees real threats to national security resulting from fiscal
shortsightedness. Among the points Hormats makes in the piece:

* The costs of national defense will clash with huge increases in
spending on entitlements in the coming decade.

* At the outset of the Iraq War and the War on Terrorism the
American people were not asked to make any sacrifices to pay for the
higher security costs the nation confronted. Troops in Iraq and
Afghanistan, and their families, are making big sacrifices. Most
Americans are not.

* The dependence of the U.S. on foreign capital would lead to
problems if foreign inflows plunged in the event of another terrorist
attack.

* Increasing American dependence on foreign oil creates economic,
financial and strategic dangers.

* Citizen participation in paying for the War on Terrorism will
help unite Americans in common cause to prevail in that war.



Bob Hormats will be available to answer your questions during his blog
tour beginning Tuesday, May 29, 2007, at the following locations:

* Marginal Revolution
http://www.marginalrevolution.com/

* Angry Bear
http://angrybear.blogspot.com

* Huffington Post
http://www.huffingtonpost.com

* Katie Couric & Co. ("10 Questions")
http://www.cbsnews.com/sections/couricandco/main500803.shtml

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