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CBO: Iraq War Cost Less Than Stimulus
Updated: Monday, 30 Aug 2010, 7:02 PM CDT
Published : Monday, 30 Aug 2010, 7:02 PM CDT
(FOXnews.com) – As President Barack 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, FOXNews.com reported Monday.
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.
The U.S. deficit for fiscal year 2010 is expected to be $1.3 trillion, according to CBO. That compares to a 2007 deficit of $160.7 billion and a 2008 deficit of $458.6 billion, according to data provided by the U.S. Office of Management and Budget.
In 2007 and 2008, the deficit as a percentage of gross domestic product was 1.2 percent and 3.2 percent, respectively.
"Relative to the size of the economy, this year’s deficit is expected to be the second largest shortfall in the past 65 years; 9.1 percent of gross domestic product (GDP), exceeded only by last year’s deficit of 9.9 percent of GDP," CBO wrote.
The CBO figures show that the most expensive year of the Iraq war was in 2008, the year when the surge proposed by Gen. David Petraeus and approved by President George W. Bush was in full swing and the turning point in the war.
The total cost of Iraq operations in 2008 was $140 billion. In 2007, the cost of Iraq operations was $124 billion.
Read more: FOXnews.com
The more I read, the more I learn, the more I distrust this current administration. They are masters of deception, propaganda is there game and they know how to play it well. We have been sold a line of crap on the cost of the war, Obama and his spending like there is no tomorrow democrats are creating a crises that will bankrupt our nation.
President Bush was criticized for his over spending, and yes I agree that he spent like a democrat over his last two years, and I was not happy about that, but Obama makes him look like a tight wad, like he never spent a dime for anything. Ah the good old days…
The above Fox News article shows the reckless spending of the current administration and the democratic house. It is sickening to watch and November 2, 2010 can not come fast enough for me.
How any sane person can think they can spend there way out of debt is beyond me. Think about it, can you do that? Can any fortune 500 company do that, how about the local ma and pop owned business, can they? History has proven time-and-again that government is not the answer, that higher taxes (due in January of 2011, thanks to the no vote of congress) and more regulations don’t do it. But History has shown us the way, look at the Reagan years, lower taxies, less regulations, and more jobs, more prosperity, less people depending on the government for a living. I know, this is all anti-Obama talk, and to the left I must be a racist. Say what you like, think as you will, but history will prove me right. That is, if we get a chance to prove it.
This November 2 is a history maker, one way or another. And in some ways this election is more important than the last one. Sure in 2008 we voted in the first Black as president of the United States, and yes that is history. But we also voted in the first socialistic government in the history of the great nation, so now, in 2010we have the chance to make history again, and to vote out the socialist agenda by removing the congress and the senate and restoring the power of the government back to the people from whom they stole it from.
America is at a cross road, we will either return to the republic that we are or continue down the path to a socialistic government that will run our lives from the offices in DC. Our vote, our voice must be heard, loud and clear this November 2nd, we must stand tall and fight for what is ours. The founding fathers of this great nation did not intend for the federal government to be a nanny state, in-fact they wrote the constitution to just the opposite, it was written to protect the citizens of this great land, not to empower the federal government. The current political power players seem to have forgotten this, the supreme court has decided they know better and the American people have become lethargic to it all.
But no more! We are fired up, we are ready for the November revolution, we are ready to fight and protect the American way, we are ready to take back what is ours!
November 2, 2010 will be, one way or another historic, I just pray it is a return to common sense, a return to smaller government, sanity and power back to whom they stole it, the people!