Eight Years of Iraq War Cost Less Than Stimulus Act
62 replies, posted
[QUOTE=Article]As President Obama prepares to tie a bow on U.S. combat operations in Iraq, Congressional Budget Office numbers show that the total cost of the eight-year war was less than the stimulus bill passed by the Democratic-led Congress in 2009.
According to CBO numbers in its Budget and Economic Outlook published this month, the cost of Operation Iraqi Freedom was $709 billion for military and related activities, including training of Iraqi forces and diplomatic operations.
The projected cost of the stimulus, which passed in February 2009, and is expected to have a shelf life of two years, was $862 billion.
The U.S. deficit for fiscal year 2010 is expected to be $1.3 trillion, according to CBO. That compares to a 2007 deficit of $160.7 billion and a 2008 deficit of $458.6 billion, according to data provided by the U.S. Office of Management and Budget.
In 2007 and 2008, the deficit as a percentage of gross domestic product was 1.2 percent and 3.2 percent, respectively.
"Relative to the size of the economy, this year's deficit is expected to be the second largest shortfall in the past 65 years; 9.1 percent of gross domestic product (GDP), exceeded only by last year's deficit of 9.9 percent of GDP," CBO wrote.
The CBO figures show that the most expensive year of the Iraq war was in 2008, the year when the surge proposed by Gen. David Petraeus and approved by President Bush was in full swing and the turning point in the war. The total cost of Iraq operations in 2008 was $140 billion. In 2007, the cost of Iraq operations was $124 billion.
According to an [URL="http://www.americanthinker.com/2010/08/iraq_the_war_that_broke_us_not.html"]analysis[/URL] by the American Thinker's Randall Hoven, the cost of the Iraq war from 2003-2008 -- when Bush was in office -- was $20 billion less than the cost of education spending and less than a quarter of the cost of Medicare spending during that same period.
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[URL]http://www.foxnews.com/politics/2010/08/30/cbo-years-iraq-war-cost-stimulus-act/[/URL]
Holy shit that's a fuckton of money.
Stimulus act will help America, and probably pay off that debt faster, as opposed to the useless war in Iraq that shat on it.
the war in Iraq did not create 3 million jobs.
3 million government jobs did not create wealth.
:foxnews:
I don't trust the source, sorry.
[QUOTE=The mouse;24494788]:foxnews:[/QUOTE]
Even worse, American Thinker
except the Iraq war has done nothing but hurt the US and make it look terrible
[QUOTE=Meatpuppet;24494739]Stimulus act will help America, and probably pay off that debt faster, as opposed to the useless war in Iraq that shat on it.[/QUOTE]
Yeah, we'll pay off our debt by spending more money we have to borrow from the Chinese.
Do you see anything, y'know, wrong with that logic?
[QUOTE=Sir Muffin;24494913]Yeah, we'll pay off our debt by spending more money we have to borrow from the Chinese.
Do you see anything, y'know, wrong with that logic?[/QUOTE]
>has never taken an economics class
You can't pay off debt with debt.
[QUOTE=ExplodingGuy;24494939]You can't pay off debt with debt.[/QUOTE]
You can pay them off with a working economy. To get there you need the stimulus.
[QUOTE=Sir Muffin;24494913]Yeah, we'll pay off our debt by spending more money we have to borrow from the Chinese.
Do you see anything, y'know, wrong with that logic?[/QUOTE]
You've got to spend money to make money.
:foxnews:
oh OH here here's an article by weekly world news on the state of our economy!
[QUOTE=bugfix;24494962]You can pay them off with a working economy. To get there you need the stimulus.[/QUOTE]
The stimulus in no way shape or form has properly addressed the issues facing the economy or created any long-term solution. All of the unemployment benefits and forced payments have made employment skyrocket and, in turn, leave companies unable to pay the high taxes that will result from this program. So now you have an even huger deficit and more unemployed people. In addition, the program never even offered a solution to the main problem: inflation.
you are so damn wrong in so many ways
[QUOTE=Derubermensch;24495125]The stimulus in no way shape or form has properly addressed the issues facing the economy or created any long-term solution. All of the unemployment benefits and forced payments have made employment skyrocket and, in turn, leave companies unable to pay the high taxes that will result from this program. So now you have an even huger deficit and more unemployed people. In addition, the program never even offered a solution to the main problem: inflation.[/QUOTE]
:suicide:
Wait what the hell, I remember shit like $1 trillion going to the war just in a specific spending bill or whatever. $709 bil seems really low.
[QUOTE=Derubermensch;24495125]The stimulus in no way shape or form has properly addressed the issues facing the economy or created any long-term solution. All of the unemployment benefits and forced payments have made employment skyrocket and, in turn, leave companies unable to pay the high taxes that will result from this program. So now you have an even huger deficit and more unemployed people. In addition, the program never even offered a solution to the main problem: inflation.[/QUOTE]
Yes we need financial reform.
The stimulus act curbed the effects of the recession, invested in clean energy, and made an effort at much-needed infrastructure improvements.
The Iraq War killed hundreds of thousands of innocent people and was justified by groundless lies so the Bush family could settle a personal score and lay claim to some oil.
Which is worse?
[QUOTE=Used Car Salesman;24500572]The stimulus act curbed the effects of the recession, invested in clean energy, and made an effort at much-needed infrastructure improvements.
The Iraq War killed hundreds of thousands of innocent people and was justified by groundless lies so the Bush family could settle a personal score and lay claim to some oil.
Which is worse?[/QUOTE]
The stimulus because Barack Obama likes it so we shouldn't
Alright, stand the fuck back guys, I'm taking AP Government AND [b]Honors[/b] economics. Let the Advanced Placement American Government and Honor Economical Student explain this after my first semester.
How many people died in the Stimulus Act?
Some would argue that the war was a catalyst for the stimulus act
[QUOTE=CabooseRvB;24501769]Okay guys, I'm taking AP Government AND [b]Honors[/b] economics. Let the Advanced Placement American Government and Honor Economical Student explain this after my first semester.[/QUOTE]
You make it seem like taking AP Gov/Econ is a big deal. At my school everyone took both of those APs. Those two and AP Human Geography are the easiest AP courses.
Still at least you won't look like a total idiot when talking about some general economics (if your teacher is decent enough).
