Monday, August 30, 2010

Eight Years of Iraq War Cost Less Than Stimulus Act

Quoting Fox News:
“As President Obama prepares to tie a bow on U.S. combat operations in Iraq, Congressional Budget Office numbers show that the total cost of the eight-year war was less than the stimulus bill passed by the Democratic-led Congress in 2009.

According to CBO numbers in its Budget and Economic Outlook published this month, the cost of Operation Iraqi Freedom was $709 billion for military and related activities, including training of Iraqi forces and diplomatic operations.

The projected cost of the stimulus, which passed in February 2009, and is expected to have a shelf life of two years, was $862 billion.”

My notes on the Fox report:

1) To verify spending on the Iraq war, see Box 1-3 on page 15 of this CBO link and tally each expense related to Iraq. As reported, it totals $709 billion.

2) The $862 billion figure was reported in January of 2010. The August, 2010 CBO report now projects the cost of the “stimulus” at $814 billion.

3) Bonds issued to fund the ‘stimulus’ cause two years of profligate spending to take 11 years in order to fully accrue all the directly related deficits.
Click the image & read the rest:
Click the image & read the rest
Click here for commentary.

Can you hear Leftist heads exploding nationwide?

That’s $89 billion per year for Iraq vs.
$407 billion (5 TIMES as much per annum) for “stimulus”!

The worst part is:
The “stimulus” (predictably) only made matters WORSE!

Click here and here for more on deficit spending.

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