Obama's failed stimulus program cost more than the Iraq war

[Mr. T]

Little-known fact: Obama's failed stimulus program cost more than the Iraq war

 

Expect to hear a lot about how much the Iraq war cost in the days ahead from Democrats worried about voter wrath against their unprecedented spending excesses.

 

The meme is simple: The economy is in a shambles because of Bush's economic policies and his war in Iraq. As American Thinker's Randall Hoven points out, that's the message being peddled by lefties as diverse as former Clinton political strategist James Carville, economist Joseph Stiglitz, and The Nation's Washington editor, Christopher Hayes.

 

The key point in the mantra 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 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 provides this handy CBO chart showing the portion of the annual deficit attributable to the conflict:

 

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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. For more from Hoven, go here.

 

 

Source

[CLEVELandMILIDH]

How bout the 168 billion dollar stimulus package Bush signed, how's that working. I'm sure that had no impact on our deficit.

[calfoxwc]

Nobody liked that. Bush did it out of political expediency and with due respect

 

for the incoming president who never has been who he said he was...

 

Say, you should REALLY be upset at how much of OUR money Obamao has spent

 

on top of what Bush did.

 

But you aren't.

 

Typical. That attitude is party why well over 300,000 people showed up at a Glenn Beck rally

 

in Washington DC. We would like to have gone...

 

The psuedo-intellectual "intelligencia" has run amok. The American people will change

 

the direction of the good ship America, even with Obamao's justice dept giving waivers to liberal states

 

who aren't providing absentee ballots to our military.

 

You see, about 80% of the military votes Republican......

 

It's a corrupt, behind the scenes coup attempt by marxists in our own gov.

 

Meanwhile, all the little libs go "hmm hmm hmm" and "yes we can".

[CLEVELandMILIDH]

Oh lord, twist, twist, twist

[Westside Steve]

How bout the 168 billion dollar stimulus package Bush signed, how's that working. I'm sure that had no impact on our deficit.

 

 

So your idea is since it was a bad thing for Bush to do, lets double triple and quadrupel it?

 

Good thinking.

WSS

[CLEVELandMILIDH]

I didn't say it was a bad idea, It did what it was meant to do.

 

How does Obama's stimulus package quadrupel the deficit if it was billions of dollars less than the Bush administrations?

 

GM's stock is at an all time low, if your investing isn't that when you wanna buy stock? That's exactly what the gov. did, they now own part of GM. They have the funds to make sure it doesn't tank, and when it rebounds, and it will, they'll have the share's to reek the benefits.

 

 

[calfoxwc]

I would think the "gov" then broke the law, letting it be known that they were going to buy it,

 

then bought it at a low price.

 

Whatever. Government motors sucks.

 

Defending Obamao at any cost is really kind of amusing... except it's getting old... @@