The U.S. government is spending more on its military today, to support its wars in Iraq and Afghanistan, its global military presence, and its arsenal, than it spent (in inflation-adjusted dollars) in the most expensive year of the Vietnam War.

And much of this spending is coming from “off-budget” borrowing. For instance, Congress has “borrowed” $177 billion from the Social Security trust fund this year to spend on war and pork, but you won’t see that $177 billion show up in the officially-reported budget deficit.

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