August 31, 2010

Eight Years of Iraq War Cost Less Than Stimulus Act

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.

1 comment:

flyingvan said...

I'm just trying to imagine where'd we be in foreign affairs if Obama had prevailed in voting against the Iraq war, and/or all the people who vilified Bush for it. A nation with oil funded wealth, terrorist training camps, etc---right next door to a nuclear Iran. Instead the most dangerous region has been (somewhat) stabilized and is an ally. I hope Obama has the manhood to realize deposing Saddam was necessary and made his job a whole lot easier. It would help his approval ratings tremendously if he publicly recognized Bush for this. I won't hold my breath.