Tuesday, August 24, 2010

Obama's Stimulus Cost MORE than 8 Years of War

I'm not making that title up. There's even a handy dandy little graph to prove it.

Check out the article here.

* 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.)

I tried to find a concise explanation of said stimulus plan. No go. It's basically $787 billion of tax cuts and government spending. Have you seen the road signs "Putting America to Work." Yea, that's stimulus money.

Interestingly, I did find an article from Reuters in February that states that Obama actually saved America from a depression with this stimulus. However, today CNBC says we are actually in a depression...

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