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Paying For War
ByEzra Klein asks:
Is there any evidence that financing wars brings them to a quicker close? Any papers examining this question?
From Bruce Bartlett's column last week:
History shows that wars financed heavily by higher taxes, such as the Korean War and the first Gulf War, end quickly, while those financed largely by deficits, such as the Vietnam War and current Middle East conflicts, tend to drag on indefinitely.
