The Price of Liberty: Paying for America's Wars

Robert Hormats was interviewed on stage before an audience about his book, The Price of Liberty: Paying for America’s Wars, published by Times Books. In the book he traced the history of the ways America has paid for its wars. He noted the initial arguments of Alexander Hamilton that the Revolutionary War would place the newly independent country in debt if not for the establishment of certain financial principles which have been replicated throughout U.S. history. Mr. Hormats contended that the Bush administration’s decision to borrow heavily and lower taxes deviated from a long-standing American tradition and could lead to a ruinous result. After their discussion Mr. Hormats responded to audience members' questions. close