The title is a quote from the Washington Post. Following is a comparison of federal spending on selected categories. --cd3
by Randall Hoven
Original article link:
"It was under Mr Bush that the deficit spiralled out of control as we fought an unnecessary and endless $3,000bn war in Iraq..." James Carville, the Financial Times.
"The Iraq adventure has seriously weakened the U.S. economy, whose woes now go far beyond loose mortgage lending. You can't spend $3 trillion -- yes, $3 trillion -- on a failed war abroad and not feel the pain at home." Linda J. Bilmes and Joseph E. Stiglitz, The Washington Post.
[See attached graph]
Data sources: CBO (see Box 1-3 and Table 1-4) and US Statistical Abstract, Table 461.
Link to CBO:
Link to Statistical Abstract, Table 461:
Hoven's Index for August 22, 2010
Total spending on the Iraq War through 2010: $709 billion
Iraq War spending in 2008 (highest year) as % of total federal outlays: 4.7%
Spending on Medicare, 2003 through 2010: $2,931.5 billion
Spending on Obama's stimulus, 2009 and 2010 only: $572 billion
Total spending on Obama's stimulus, 2009-2019: $814 billion
Data sources: CBO (see Boxes 1-2 and 1-3, and Table 1-4) and US Statistical Abstract, Table 461.
See above links for sources.
Click to view image: '29fe1fbe295a-spending.gif'
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