While it's certainly true that someone will have to pay for the war at some point - somebody, someday, somewhere will have to give up something to pay the bills - raising taxes right now is not good short-run economic policy given the current weakness in the economy. Driving the economy into a recession would show sacrifice, but that's not the best way to show our support.
If this had been written by someone in the White House, I’d expect Mark to actually mock this suggestion. But this is Mark making the statement and as much as I respect his insights on these matters, it’s my turn to do some mocking. Sure we have seen some recent weakness in aggregate demand growth. But is an increase in national savings necessarily recessionary? Has easy monetary policy lost all of its potency? After all, lower interest rates could encourage more investment as well as even more dollar devaluation with its encouragement of more net exports.