What is Causing Federal Deficit, Iraq War or Stimulus Spending?
American Thinker 24 August 2010 No Comment
The following are facts, based on the government’s own figures.
- 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.)
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