Financing the War on Terrorism

Air strikes are being directed at sites in Afghanistan. Security has been beefed up at airports and stadiums and national monuments. Clean up costs in New York and Washington will run into the tens of billions. The question becomes: how are we going to pay all of the costs related to the war on terrorism?

In early September, the talk in Washington revolved around a shrinking surplus. The surplus is gone, and the terrorism-related bills are mounting. Could this new war lead to a financial crisis?

Guests:

Greg Ip, reporter with the Wall Street Journal;

James Galbraith, Professor of Public Affairs and Government at the University of Texas;

Harvard biologist Mathew Messelson explains why the anthrax cases in Florida may be a cause for alarm.