Eric Margolis, wrote Feb. 7 in the Toronto Sun: "More empires have fallen because of reckless finances than invasion." Here is a synopsis of his article.

* This year Washington's deficit will reach $1.6 trillion, with most of it to be borrowed from China and Japan--countries the US already owes $1.5 trillion. (Margolis points out that to spend $1 trillion, you'd have to spend $1 million per day starting 2,738 years ago.)

* The military budget is almost $1 trillion--$880 billion to the Pentagon, about $70 billion for secret programs, plus military aid to other countries (especially Egypt, Israel and Pakistan), payment to contractors (including mercenaries), covering veterans' needs and $75 billion for 16 intelligence agencies with 200,000 employees.

* So far, the bill for the Afghanistan and Iraq wars is $1 trillion. This year, if you include hidden and indirect expenses, $200-250 billion will be added to the bill.President Obama's 30,000 troop surge will cost $33 billion more. (Margolis adds that the surge amount is more than Germany's total defence budget.)

* "There are 750 U.S. military bases in 50 nations and 255,000 service members stationed abroad... Military spending gobbles up 19% of federal spending and at least 44% of tax revenues. During the Bush administration, the Iraq and Afghanistan wars--funded by borrowing--cost each American family more than $25,000."