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Signs of the economic times
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Posted November 2, 2009
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War Costs 4 U
I have not heard of taxes being raised, yet to pay for the Wars; and I believe you don't get something for nothing.
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http://en.wikipedia.org/wiki/Financial_cost_of_the_Iraq_War
Indirect and delayed costs
According to a Congressional Budget Office (CBO) report published in October 2007, the U.S. wars in Iraq and Afghanistan could cost taxpayers a total of $2.4 trillion dollars by 2017 when counting the huge interest costs because combat is being financed with borrowed money. The CBO estimated that of the $2.4 trillion long-term price tag for the war, about $1.9 trillion of that would be spent on Iraq.[9]
Stiglitz, former chief economist of the World Bank and winner of the Nobel Prize in Economics, has stated the total costs of the Iraq War on the US economy will be three trillion dollars in a moderate scenario, and possibly more in the most recent published study, published in March 2008.[10] Stiglitz has stated: "The figure we arrive at is more than $3 trillion. Our calculations are based on conservative assumptions. They are conceptually simple, even if occasionally technically complicated. A $3 trillion figure for the total cost strikes us as judicious, and probably errs on the low side. Needless to say, this number represents the cost only to the United States. It does not reflect the enormous cost to the rest of the world, or to Iraq."[10]
The CRS estimated in September 2006 that total expenditures had topped half a trillion dollars.[2] Additionally, the extended combat and equipment loss have placed a severe financial strain on the U.S Army, causing the elimination of non-essential expenses such as travel and civilian hiring.[11][12]
As the total passed US$450 billion, the cost for the Iraq war reached approximately $1500 per person in the United States.[13] If the Iraq war were to wind up costing 1.9 trillion dollars, the cost would be over 4.2 times higher ($6,300 per United States citizen.) This would put the expense at $25,000 for an average family of four, or $32,000 per family if Afghanistan is included.
As a comparison, with this money he estimates[13] that one could have built 8 million houses, paid 15 million teachers, paid for the child care of 530 million kids, paid for the scholarship of 43 million students, offered social safety net during 50 year to Americans. Stigltz also said that United States help for Africa is only $5 billion, soon to be superseded by China. $5 billions correspond to only the spending of 10 days for the war by the United States.
The UH-60 Black Hawk that crashed on September 21, 2004.
[edit] Long-term health care costs
A recent study indicated that the long term health care costs for wounded Iraq war veterans could range from $350 billion to $700 billion.[14]
[edit] Military equipment lost
The U.S. has lost a number of pieces of military equipment during the war. The following statistics are from the Center for American Progress:[15]; they are approximations that include vehicles lost in non-combat-related accidents as of 2006.
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http://justthefacts.jottit.com/federal_budget
September 22, 2008--Comparing Debt
When Bill Clinton became president, the total federal debt, including both public debt and intragovernmental holdings, was $4.188 Trillion. When he left office, the debt was $5.728 Trillion. In other words, the federal debt, in nominal terms, climbed 26.88547%.
Thus far (with about four months to go), the federal debt under W has grown from $5.728 Trillion to $9.727 Trillion or $3.999 Trillion. That's a 69.814944% increase, more than twice the percentage increase under Clinton.
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http://www.warresisters.org/pages/piechart.htm
Current Military Past Military, Human Resources General Government Physical Resources | Total Outlays (Federal Funds): $2,650 billion HOW THESE FIGURES WERE DETERMINED urrent military” includes Dept. of Defense ($653 billion), the military portion from other departments ($150 billion), and an additional $162 billion to supplement the Budget’s misleading and vast underestimate of only $38 billion for the “war on terror.” “Past military” represents veterans’ benefits plus 80% of the interest on the debt.*
These figures are from an analysis of detailed tables in the “Analytical Perspectives” book of the Budget of the United States Government, Fiscal Year 2009. The figures are federal funds, which do not include trust funds — such as Social Security — that are raised and spent separately from income taxes. What you pay (or don’t pay) by April 15, 2008, goes to the federal funds portion of the budget. The government practice of combining trust and federal funds began during the Vietnam War, thus making the human needs portion of the budget seem larger and the military portion smaller. *Analysts differ on how much of the debt stems from the military; other groups estimate 50% to 60%. We use 80% because we believe if there had been no military spending most (if not all) of the national debt would have been eliminated. For further explanation, please see box at bottom of page. | |||||||||
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War Resisters League
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