Texas Insider Report: DALLAS Texas The economy is in a shambles because of Bushs economic policies and his war in Iraq. As American Thinkers Randall Hoven points out thats the message being peddled by the political Left. The key point is an alleged $3 trillion cost for the war.
Well it was expensive to be sure in both blood and treasure but as Hoven notes the Congressional Budget Office (CBO) puts the total cost at $709 billion.
To put that figure in the proper context of overall spending since the war began in 2003 Hoven summarizes and highlights key points from the CBO data:
- Obamas stimulus passed in his first month in office will cost more than the entire Iraq War -- more than $100 billion (15 percent) more.
- Just the first two years of Obamas stimulus cost more than the Iraq War under President Bush or six years of that war.
Iraq War spending accounted for just 3.2 percent 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.
Also:
- Iraq War spending was not even 15 percent 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 percent of the federal debt held by the public at the end of 2010 ($9.031 trillion).
- During Bushs Iraq years 2003-2008 the federal government spent more on education than it did on the Iraq War.
Source: Mark Tapscott
Little-known fact: Obamas failed stimulus program cost more than the Iraq war Washington Examiner August 23 2010.
