Tuesday, August 24, 2010

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

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.

No comments:

EDITORIALS: Sad Hill News

EDITORIALS: American Issues Project

EDITORIALS: American Thinker

EDITORIALS: Conservative Dialysis

EDITORIALS: Defund & Disobey

EDITORIALS: DickMorris.com

EDITORIALS: Firm Foundation

EDITORIALS: Investor's Business Daily - Editorial RSS

EDITORIALS: John Goodman's Health Policy Blog

EDITORIALS: Obama Lies

EDITORIALS: Onenewsnow.com Front Page Stories

EDITORIALS: Power Line

EDITORIALS: RedState

EDITORIALS: Sharp Right Turn

EDITORIALS: The Cloakroom Blog

EDITORIALS: The Front Page

EDITORIALS: The Next Right

EDITORIALS: The Patriot Room

EDITORIALS: TownHall Latest columns

EDITORIALS: Vocal Minority

EDITORIALS: Webloggin

ECONOMICS: Agora Financial's The 5 Min. Forecast

ECONOMICS: Capital Commerce

ECONOMICS: Capitalism Magazine (CapMag.com)

ECONOMICS: CARPE DIEM

ECONOMICS: NCPA | Daily Policy Digest

ECONOMICS: RealClearMarkets

ECONOMICS: WSJ.com: Real Time Economics

NEWS: NewsBusters.org - Exposing Liberal Media Bias

NEWS: Newsmax - Inside Cover

NEWS: Resistnet.com

NEWS (SATIRE): ONN Front Page Stories

TRACKING: The Obameter: Tracking Obama's Campaign Promises