Is U.S. Economy Ready for War?
President Bush is making his case to the international community to strike Iraq, but is the U.S. economy prepared for war?
"It depends upon what shape the economy is in when we strike," says UAB economist Ted Bos, Ph.D. "I see stories saying we need at least as many ground troops for Iraq as we did for the Gulf War. That requires many months of preparation. In that time, the U.S. economy could easily be out of the current recession and government finances would be better, making the $80 billion or so that it would cost easier to handle. There is also another economic factor to consider -- global oil supply. The United States has been building up its strategic reserves to be ready, but the question is, will Saudi Arabia pump more to allay fears of oil shortages."
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