How Does the United States Pay for the War On Terror?

Today I read that the Bush Administration will be seeking $245 Billion for the War On Terror. $100 Billion for 2007 and $145 Billion for 2008. For me, numbers this big typically go in one ear and out the other. They're too big to comprehend so why even bother...but this time $245 Billion stuck. That's a lot of cash! Where do we (U.S.) get this money from? I found the following article somewhat informative. It was at least a starting point.

http://www.csmonitor.com/2007/0116/p01s01-usfp.html?s=u

Basically, the U.S. pays for the War On Terror like many of us ordinary tax paying civilians do. The Bush Administration uses its credit card. That's right. We borrow from foreign countries, like communist country, China.

But to pay for the ongoing wars in Iraq and Afghanistan, the US has used its credit card, counting on the Chinese and other foreign buyers of its debt to pay the bills. - The Christian Science Monitor

Hmm...so who is going to pay off this credit card?

Because the US is borrowing to finance the war, the cost will be borne by future generations. "And it's still going to be one of the most expensive wars we have ever fought." [analyst Stan Collender, a managing director of Qorvis Communications in Washington]' - The Christian Science Monitor

I'm sure there are many Americans out there who are like me and are enjoying the tax cuts. But is this really a heads up play?

Unlike in previous major wars, the United States has cut taxes at the same time it has increased military spending. "It's fair to say all of the money spent on the war has been borrowed," says Richard Kogan, a senior fellow at the Center on Budget and Policy Priorities, a think tank in Washington. "But eventually everything has to be paid for." - The Christian Science Monitor

The budget deficit has always been this mystical unimaginable entity - very much like the Tao. All I know is what I hear, the future generations are going to inherit a huge deficit. As scary as this is suppose to sound it's like watching a horror film with the sound off. But like I mentioned earlier something clicked this time. Some strange mechanism turned on and suddenly I care. So how does this War On Terror effect our deficit?

Estimating the budget deficit has become more difficult in recent years because the White House has funded much of the war through emergency supplemental bills, which are not included in the federal budget. - The Christian Science Monitor

Great! Now they've added a new mysterious ingredient into the black cauldron, the "Emergency supplemental bill". What is this?!

"Calling it an emergency means the spending does not get the scrutiny," he adds, because then the spending is reviewed by only one committee – House Appropriations. In addition, he says, emergency spending is exempt from caps on discretionary spending. This has prompted the military to include in the bill items that are not directly related to the war. - The Christian Science Monitor

My next stop, get to the bottom of our deficit and this Emergency supplemental bill. I hope you enjoyed this first segment of "War On Terror" and stay tuned for more...