Deficits With And Without The Iraq War

Discussion in 'Politics' started by boedicca, Aug 23, 2010.

  1. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    As Obamanomics crashes and burns, the spinmeisters on the Left continue to try to blame the deficit and our economic wars on Bush, and more specifically, Bush's War in Iraq.

    As data from the CBO demonstrates, they are pushing misinformation. Here's the real G2:

    [​IMG]


    The Iraq War ends this month. The last combat brigade left August 19. Operation Iraqi Freedom, which began in 2003, will end August 31. September 1 marks the beginning of Operation New Dawn. Now that it's over, what did the Iraq War cost?

    Here are examples of what some people had been saying about Iraq War costs.

    "It was under Mr Bush that the deficit spiralled out of control as we fought an unnecessary and endless $3,000bn war in Iraq..."
    - James Carville, the Financial Times.

    "The Iraq adventure has seriously weakened the U.S. economy, whose woes now go far beyond loose mortgage lending. You can't spend $3 trillion -- yes, $3 trillion -- on a failed war abroad and not feel the pain at home."
    - Linda J. Bilmes and Joseph E. Stiglitz, The Washington Post.

    "First, the facts. Nearly the entire deficit for this year and those projected into the near and medium terms are the result of three things: the ongoing wars in Afghanistan and Iraq, the Bush tax cuts and the recession. The solution to our fiscal situation is: end the wars..."
    - Christopher Hayes, The Nation.

    The correct answer to my question, according to the Congressional Budget Office, is $709 billion. The Iraq War cost $709 billion. Why Carville, Bilmes, and Nobel-winning economist Stiglitz thought the answer was $3 trillion is anybody's guess. But what's a 323% error among friends?


    American Thinker: Iraq: The War That Broke Us -- Not
     
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  2. 8537
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    8537 Senior Member

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    It wasn't just the wars that Bush fucked us with. it was also a 1.2T monstrosity known as pharmasubsi...err...I mean Medicare Part D.

    And a vast expansion of farm subsidies.

    And a tax cut that was supposed to refund the "surplus" that disappeared right after he took office.

    ....
     
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  3. johnrocks
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    johnrocks Silver Member

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    Wars, Medicare Part D , taxcuts with spending increases, a lot of things were going on to add to the deficit.
     
  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Its obvious our aircraft carriers that cost $7 trillion, that has to be it
     
  5. Mr. Peepers
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    Mr. Peepers Senior Member

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    Where are you getting this number??? When I added it up from the chart, Bush spent @1.85 trillion and Obama is spending 1.4 trillion = roughly 3.25 trillion total (as of 2009). The 1.4 trillion, which I believe also includes the war in Afghanistan. The Iraq war definitely broke us and should never have happened in the first place. Period. Imagine where we'd be without that nightmare money suck of a fiasco. It is exactly what it was intended to be... a vehicle to put money in the pockets of select multinationals ... taxpayer's money, that is.
     
  6. The Rabbi
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    The Rabbi Diamond Member

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    But none of them nearly as much as the insane spending binge by Obama&Co.
    Review & Outlook: $4.4 Trillion - WSJ.com
     
  7. johnrocks
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    johnrocks Silver Member

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    Oh, I agree, Obama is definitely pushing down on the gas pedal harder. I'm pissed at both Parties, they both took our trust over the years and spat on it.
     
  8. 8537
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    8537 Senior Member

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    Current deficits are far more impacted by a decline in tax revenues than an any increases in spending.
     
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  9. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The numbers are from the CBO. You can look them up yourself if you don't believe them.
     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Absolute Poppcock. The Federal Budget has increased from 30% ($800B) from 2007 to 2010, while tax revenue is down $100B.
     
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