According to the National Priorities Project, the War in Iraq has now cost American taxpayers $670 billion. That stands in stark contrast to the $100 billion to $200 billion pricetage estimated by President Bush’s chief economic advisor in September 2002 or the $50 billion to $60 billion estimate offered by the White House Office of Management and Budget Director in 2002.I think $670 is a lowball estimate, as I've seen estimates in the $2-3 trillion range for the final costs of the war, which takes into account costs to individuals that don't appear on the government's war spending budget.
But this is why it's difficult to get worked up about Obama's $787 billion stimulus. Both boondoggles to feed the respective party's interest groups, but I know which I'd prefer.
so now at least we can see a stark illustration of why obama is required to spend a lot of money. how much of bush's wars were actually paid for over the last 8 years? very little. all he did was punt the football down the field to the next President to try to figure out how to backfill the smoking crater bush left him with. all too often, media reports on obama's agenda treat Jan 20 2009 as this magical date on which Obama appeared from the ether and started from Square One in terms of spending priorities. the fact is that Bush slashed tax revenue for the first time in american history during a time of war, requiring nearly all the actual cost of the war to be paid for by our children and grandchildren
ReplyDelete