Re: Before anyone tries to blame the economy and deficits on Bush and the Iraq war.........
posted at 8/24/2010 2:39 PM EDT
In Response to Before anyone tries to blame the economy and deficits on Bush and the Iraq war.........
[QUOTE]They should look at the CBO charts to keep things in perspective CBO chart showing the portion of the annual deficit attributable to the conflict: But there is much more to be said of this data and Hoven does an admirable job of summarizing the highlights of such an analysis: * 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.) Just some handy facts to recall during coming weeks as Obama and his congressional Democratic buddies get more desperate to put the blame for their spending policies on Bush and the war in Iraq
Posted by sk8ter2008[/QUOTE]
Handy facts to recall..... ? We know that Obama ran huge deficits. That's not the question.
The question is: How much was necessary and how much was Bush's fault?
The vast majority of economists - indeed just about all of them - agree that the Obama stimulus was necesary. In fact, that it was too small. Oops, there goes that critique.
Why so much other spending? Might it have to do with inheriting: Bush's 3 trillion perscription plan, inherting two wars, Bush's tax cuts, financial collapse helped by deregulation?
Not to Republicans. They'd prefer to re-write history.
Remember in November allright.
As for Sk8? Well, he'll just spam another thread saying the same thing tomorrow.