Front & Center with John Callaway: The Economics of National Security: The Cost Today, The Price Tomorrow

The cost of the war in Iraq, homeland security in the U.S. and deployment of American troops around the globe were both taxing the U.S. treasury and generating heated debate in Congress at the time of this recording. What was the financial impact of increased national security? How was military spending affecting the rest of our economy today and tomorrow? John Callaway and his panel of experts explored the real cost of the war on terror and its implications for the future.

Louis A. Holland serves as Managing Partner and Chief Investment Officer of Holland Capital, where he oversees the management of the firm's equity and fixed income management strategies. Prior to founding Holland Capital in 1991, Holland gained early business management experience at Commonwealth Edison after playing professional football with both the CFL and NFL. His investment experience was augmented by 15 years at A.G. Becker Paribas Inc., where he served as a Vice President specializing in asset and portfolio management for corporations, endowments, foundations, public funds, Taft/Hartley, and high net worth individuals. In 1983, he formed his prior firm, Hahn Holland & Grossman. Holland earned a B.S. in economics from the University of Wisconsin and attended Loyola University Chicago Graduate School of Business. In 1990, the University of Wisconsin Alumni Association presented him with the Distinguished Alumni Award. More recently, the National Association of Securities Professionals honored Holland with the 2004 Maynard Jackson Entrepreneur of the Year Award. He has been a special guest and 20-year veteran panelist on Wall $treet Week with Louis Rukeyser and Rukeyser's Wall $treet. Mr. Holland's additional media exposure includes guest appearances on the Financial News Network, CNN's Moneyline, CNBC, and the Chicago Tonight show.

Brian Wesbury is Chief Economist at First Trust Advisors L.P., a financial services firm based in Lisle, Illinois . The Wall Street Journal ranked Mr. Wesbury the nation's #1 U.S. economic forecaster in 2001 and USA Today ranked him as one of the nation's top 10 forecasters in 2004. Mr. Wesbury writes a monthly column for The American Spectator magazine, and serves as the magazine's Economics Editor. He is a contributor to the editorial page at The Wall Street Journal, and is a regular co-host on CNBC's Squawk Box. Mr. Wesbury is a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago, and he is also an adjunct professor of economics at Wheaton College in Wheaton , IL . In 1995 and 1996, he served as Chief Economist for the Joint Economic Committee of the U.S. Congress. Wesbury has served as the Vice President and Economist for the Chicago Corporation, Senior Vice President and Chief Economist for Griffin, Kubik, Stephens, & Thompson and Senior Investment Strategist and Senior Managing Director at Claymore Securities, Inc. Wesbury received an M.B.A. from Northwestern University 's Kellogg Graduate School of Management, and a B.A. in Economics from the University of Montana. McGraw-Hill published Wesbury's first book, The New Era of Wealth, in October 1999.

Paul Kasriel is Senior Vice President and Director of Economic Research at The Northern Trust Company. His economic and interest rate forecasts are used both internally and by clients. The consistent accuracy of Northern's economic forecasts is exemplified by its ranking in the top five of the Blue Chip Survey for the past 15 years. Kasriel is the co-author of a book entitled Seven Indicators That Move Market. In addition to being a member of the American Economic Association and the National Association of Business Economists, Kasriel has served on the Economic Advisory Committee of the American Bankers Association. He began his career as a research economist at the Federal Reserve Bank of Chicago, later having responsibility of organizing and leading the monetary policy briefings for the Bank's president. Kasriel has been a lecturer in finance at the Northwestern University Kellogg Graduate School of Management. He graduated with honors from the University of South Florida, receiving a Bachelor of Arts degree in economics. He received a Master of Arts degree in economics from Indiana University.