Over forty
years ago, on April 4, 1967, Dr. Martin Luther King, Jr. delivered
an historic, antiwar address at New York
City’s Riverside Church. King declared that the social
programs of President Lyndon Johnson’s administration, widely
termed “The Great Society,” had been “shot down over the battlefields
of Vietnam.”
King announced that “it would be very inconsistent for me
to teach and preach nonviolence in this situation and applaud
violence when thousands and thousands of people, both adults
and children, are being maimed and many killed in this war.”
Eleven days later, in New York City’s
Central Park, King led a rally of 125,000 in protest against the Vietnam
War.
In this presidential
campaign year, the candidate speaking most decisively within
the tradition of Dr. King’s Riverside
Church peace address is Illinois
Senator Barack Obama. In a major address on March 20 at the
University of Charleston, Obama urged the electorate
to consider the destructive impact Bush’s five-year-long war
in Iraq
has had on the U.S.
economy. Obama observed: “The more than $10 billion we’re
spending each month in Iraq
is money we could be investing here at home. Just think about
what battles we could be fighting instead of fighting this
misguided war.” Obama showed the ability to break down the
$10 billion Iraq War bill to illustrate how every U.S. family was bearing
part of the financial burden. “When Iraq is costing each household about $100 a month,
you’re paying a price for this war,” Obama declared. “No matter
what the costs, no matter what the consequences, John McCain
seems determined to carry out a third [Bush] term. That’s
an outcome America can’t afford.”
Every day,
the nation is slipping further into a serious economic crisis,
while President Bush mindlessly tap dances outside the White
House. Between September, 2007 and January, 2008, the median
price for a U.S. home fell 6 percent compared to one year
earlier. The private sector economy lost 26,000 jobs in January,
2008, and another 101,000 jobs in February.
The economic
“Great Unknown,” of course, is the size of the bad debt generated
by mortgage refinancing, and the leveraged debt of investment
banks like Bear Stearns. Tens of millions of Americans heavily
borrowed against the rising value of their homes to pay for
home remodeling, to cover the costs of their children’s college
education, and to pay medical bills. The banks irresponsibly
sold subprime mortgages that reaped super profits, but saddled
low income families with mortgage obligations they could not
afford. Today, about nine million American families are currently
behind in their mortgage payments. One to two million Americans
will declare bankruptcy during the next twelve months.
Obama’s immediate
task is to link the current economic and mortgage crisis being
experienced by millions of Americans, with the political economy
of the Iraq War. The place for Obama to start would be to
remind voters of the distance between Bush’s promises about
the projected economic costs of the conflict vs. the reality.
The federal government is incapable of addressing domestic
economic problems, he might argue, because the Iraq War cost
is so expensive.
Five years
ago, the Bush administration promised Americans that the cost
for invading and occupying Iraq militarily would
be approximately $50 to $60 billion. By the fifth anniversary
of the Iraq
invasion, this March, the Pentagon admitted that military
expenditures now exceed $600 million. The Congressional Budget
Office, a nonpartisan center, sets the real cost at somewhere
between $1 trillion and $2 trillion.
Nobel Prize-winning
economist, Joseph Stiglitz, my faculty colleague at Columbia
University, estimates that the long
term cost for Bush’s war in Iraq
will exceed $4 trillion. The best way to comprehend this enormous
waste of money and human lives that the United
States government has carried out is
to measure the unmet needs and obligations we are failing
to address. Several days ago, for example, Hillary Clinton
estimated the cost of the Iraq War at “well over $1 trillion.
That is enough to provide health care to all 47 million uninsured
Americans and quality pre-kindergarten for every American
child, solve the housing crisis once and for all, make college
affordable for every American student and provide tax relief
to tens of millions of middle-class families.”
Even some
thoughtful Republicans who supported the Iraq War now recognize
how terribly wrong their estimates were for how much the conflict
would cost. Take the case of economist Lawrence B. Lindsey,
Bush’s first chief economic adviser. Lindsey was fired from
his post years ago because he estimated that the war could
cost $100 billion to $200 billion. Lindsay’s preliminary figures
were right, but he underestimated how long U.S.
troops would be stationed and fighting in Iraq. Now, Republican Presidential candidate John
McCain promises us that American troops could be stationed
and fighting in Iraq
for one hundred years.
Obama’s biggest
challenge, however, is to explain to the American people that
both imperialist wars abroad and periodic economic crises
at home represent a structural failure within America’s economic
and political system. This was, of course, the realization
of Dr. Martin Luther King Jr. just before his assassination.
“For years I labored with the idea of reforming the existing
institutions of society,” King declared in 1966, “a little
change here, a little change there. Now I feel quite differently.”
BlackCommentator.com
Editorial Board member, Manning Marable, PhD is one of America’s most influential and widely read scholars.
Since 1993, Dr. Marable has been Professor of Public Affairs,
Political Science, History and African-American Studies at
Columbia University in New
York City. For ten years, Dr. Marable was founding director
of the Institute
for Research in African-American Studies at Columbia University,
from 1993 to 2003. Dr. Marable is an author or editor of over
20 books, including
Living Black History: How Reimagining the African-American Past
Can Remake America's Racial Future
(2006); The Autobiography of Medgar Evers: A Hero's Life And Legacy Revealed
Through His Writings, Letters, And Speeches
(2005); Freedom: A Photographic History of the African American Struggle
(2002); Black Leadership: Four Great American Leaders and the Struggle
for Civil Rights
(1998); Beyond Black and White: Transforming African-American Politics
(1995); and How Capitalism Underdeveloped Black America: Problems in Race,
Political Economy, and Society (South End Press Classics Series)
(1983). His current project is a major biography of Malcolm
X, entitled Malcolm X: A Life of Reinvention, to be published
by Viking Press in 2009. Click
here to contact Dr. Marable or visit his Website manningmarable.net.