Memorize these facts

There will be a test:

* Obama’s stimulus, passed in his first month in office, will cost more than the entire Iraq War — more than $100 billion (15%) more.
* Just the first two years of Obama’s stimulus cost more than the entire cost of the Iraq War under President Bush, or six years of that war.
* Iraq War spending accounted for just 3.2% of all federal spending while it lasted.
* Iraq War spending was not even one quarter of what we spent on Medicare in the same time frame.
* Iraq War spending was not even 15% of the total deficit spending in that time frame. The cumulative deficit, 2003-2010, would have been four-point-something trillion dollars with or without the Iraq War.
* The Iraq War accounts for less than 8% of the federal debt held by the public at the end of 2010 ($9.031 trillion).
* During Bush’s Iraq years, 2003-2008, the federal government spent more on education that it did on the Iraq War. (State and local governments spent about ten times more.)

Bush’s war didn’t get us here.

Explore posts in the same categories: Uncategorized

6 Comments on “Memorize these facts”

  1. Steve B Says:

    Despite talk of the military-industrial complex, American industry was never really on a ‘war footing.’

    The reason that it took so long to get the HMWWV up-armor kits to Iraq way back when was that they could only purchase so many given the BUDGET CONSTRAINTS. Workers at the factory said they could have gone extra shifts, and made more than enough, but the government didn’t order them.

    Same with body armor. The manufacturing capability existed, but the government chose not to spend the money.

    What real economic impact did the war have on the average American, compared to that of WWII? Nada.

    It amazes me that the progs continue to beat the Bush/Iraq/Deficit drum, when Obama’s spending makes Bush look like a penny pincher. Bush made plenty of his own mistakes, especially late in his tour, but come ON people. Open our eyes to what Obama is DOING!

  2. geoff Says:

    Hoven’s analysis is, unfortunately, crap. He says he’s mystified as to how anybody could possibly claim that the Iraq War cost $3 trillion, but that’s nonsense – they wrote a book in which they justify the $3 trillion number.

    The problem is that Hoven is only accounting for the direct costs of the war, and not adding in things like interest on the debt and long-term medical care. Now, I don’t believe the $3 trillion number either, but you can’t just wish it away – you have to attack the rationale and assumptions that went into it.

    But Hoven’s chart and set of talking points are just a big step backward in trying to determine what the costs really are.

  3. Car in Says:

    heartache, geoff.

  4. clintbird Says:

    Ask and ye shall receive, Carin. Here’s something for you to post:

  5. Car in Says:

    Clint, you seem to be averaging one poat a year.

  6. MJ Says:

    The three trillion dollar number that is being used by the left is unfortunately correct. It includes the debt servicing, long term cost of medical care for the troops, and replacement costs for the machinery. The numbers from the article are merely the amount of dollars that have been allocated by congress so far.

    But this is only part of the story. The stimulus package, which will require debt servicing, and establishes baseline spending far above the previous year will actually cost in the neighborhood of 3.2 trillion.

    Both the left and the right are comparing apples to oranges, but when apples to apples are compared, the stimulus was slightly more expensive.

    I think the real question is, “which provided more value.” Easy answer. 25 million free vs. cash for clunkers.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: