Flashback: Obama’s Failed Stimulus Cost More than 9 Year Iraq War

Just in case you forgot.

As the War in Iraq winds down remember…
The entire cost of the Iraq War was less than Barack Obama’s failed stimulus bill.
Nice work, champ!
FOX News reported:

As President Obama prepares to tie a bow on U.S. combat operations in Iraq, Congressional Budget Office numbers show that the total cost of the eight-year war was less than the stimulus bill passed by the Democratic-led Congress in 2009.

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.

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  • Texas_Treeroach

    Obama’s blind devotees will see the Iraq withdrawl as victory that MUST lead to economic healing.

    The stark reality in charts like the one above will be withheld in the MSM, or ignored if they do appear, albeit in the form of a footnote.

    You can lead a jackass to the water of truth, but you’ll never be able to make him drink it.

  • MrGoodWench

    Congressional Budget Office numbers show that the total cost of the eight-year war was less than the stimulus bill passed by the Democratic-led Congress in 2009.
    +++
    Bush was such a loser, he couldn’t even spend in 8 yrs what Obama spend in just one bill
    😉
    and Bush was such a loser, he spend money on troops, while Obama paid his bundlers

  • Patty

    Total Bailout = $23.7 TRILLION

    Here’s a crazy stat for you. The total amount of US backstops and bailouts has reached a staggering $23.7 trillion!

    How do we know? Because TARP watchdog Neil Barofsky is going to say so in his fresh report, and that report was leaked to many top media outlets, like WaPo and Dow Jones. If it’s available to the public, we certainly can’t find it on the SIGTARP website. The last report that’s up is from April, 21.

    Presumably, one of Neil Barofsky’s main goals is to promote transparency within TARP. He could start by increasing transparency in his own office, instead of playing footsie with the same old media pals.

    Read more: http://articles.businessinsider.com/2009-07-20/wall_street/29967033_1_tarp-watchdog-transparency-neil-barofsky#ixzz1bYux3Eyc
    Actually, higher. Blows your MIND!!

  • Ahhhh ya missed an important part Jimbo,

    Not only did the stimulus cost more than the war.

    The war was constitutional the stimulus is not.

    Bad policy by Bush (TARP) or Obama (porkulus).

    Powder is dry

  • Patty

    Bailouts could cost U.S. $23 trillion

    http://www.politico.com/news/stories/0709/25164.html

  • Patty

    Taxpayers still own 500M underperforming GM shares, Obama says ‘investment was worth it’

    Read more: http://dailycaller.com/2011/10/14/taxpayers-still-own-500m-underperforming-gm-shares-obama-says-investment-was-worth-it/#ixzz1bYyB3Ty4

  • Patty

    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

    Read more at the Washington Examiner: http://washingtonexaminer.com/blogs/beltway-confidential/little-known-fact-obama039s-failed-stimulus-program-cost-more-iraq-war#ixzz1bYzHJv6J

    Expect to hear a lot about how much the Iraq war cost in the days ahead from Democrats worried about voter wrath against their unprecedented spending excesses.

    The meme is simple: The economy is in a shambles because of Bush’s economic policies and his war in Iraq. As American Thinker’s Randall Hoven points out, that’s the message being peddled by lefties as diverse as former Clinton political strategist James Carville, economist Joseph Stiglitz, and The Nation’s Washington editor, Christopher Hayes.

    The key point in the mantra is an alleged $3 trillion cost for the war. Well, it was expensive to be sure, in both blood and treasure, but, as Hoven notes, the CBO puts the total cost at $709 billion. To put that figure in the proper context of overall spending since the war began in 2003, Hoven provides this handy CBO chart showing the portion of the annual deficit attributable to the conflict:

    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.

    Follow the Washington Examiner on Facebook

    Read more at the Washington Examiner: http://washingtonexaminer.com/blogs/beltway-confidential/little-known-fact-obama039s-failed-stimulus-program-cost-more-iraq-war#ixzz1bYyjAbAP

  • valerie

    Excellent graph, I hope it gets put to good use, and often. Too many people in this administration are confirmed non-math majors.

  • Patty

    Expect to hear a lot about how much the Iraq war cost in the days ahead from Democrats worried about voter wrath against their unprecedented spending excesses.

    The meme is simple: The economy is in a shambles because of Bush’s economic policies and his war in Iraq. As American Thinker’s Randall Hoven points out, that’s the message being peddled by lefties as diverse as former Clinton political strategist James Carville, economist Joseph Stiglitz, and The Nation’s Washington editor, Christopher Hayes.

    The key point in the mantra is an alleged $3 trillion cost for the war. Well, it was expensive to be sure, in both blood and treasure, but, as Hoven notes, the CBO puts the total cost at $709 billion. To put that figure in the proper context of overall spending since the war began in 2003, Hoven provides this handy CBO chart showing the portion of the annual deficit attributable to the conflict:
    http://media.sfexaminer.com/images/How+much+did+the+Iraq+war+cost.gif

    Read more at the Washington Examiner: http://washingtonexaminer.com/blogs/beltway-confidential/little-known-fact-obama039s-failed-stimulus-program-cost-more-iraq-war#ixzz1bYzbwGHT

  • Patty

    Obama is a habitual liar. He is demonstrating all the emotions of a true Marxist. Saying things for purpose of self.

    Troops coming home: Comparison to now we can work on economy. Because now all that money on defense will help to pass Job Bill. And it will help to pay for Obama care.

    This is a political tactic and he is hoping that while he is on fire with the latest Libya news he can ride the wave.

    Occupiers are like Tea Party, in his pathetic mind. Occupiers have been one of the most distracting groups formed for that very purpose. Investigations are underway from the border to the green. Obama can’t run from the 4 trillion in spending and the number is far greater.

    No one is reporting just how much greater. All his policies are crumbling around him.

  • valerie

    Herman Cain, on what he’d do about it.

    http://www.therightscoop.com/herman-cain-introduces-999-opportunity-zones/

    H/t Polipundit

  • which one created more jobs.

  • KOW

    Basically, his stimulus failure cost more than the prior 6 years of non-Iraq debt. Just looking at the reds parts.

  • Molon Labe

    Obama has destroyed the US economy. But who went to jail? Who will go to jail? The dhimmies and the Repubs are just two groups that form the Big Government Party.

  • gus

    Obama is filth.

  • American Woman

    Unfortunately, our losses were more than financial.

    Young American men and women died, and many more were maimed. Some came back with huge disabilities. Our Iraq losses were much more than financial.

    For what?

    Hussein was ruthless, but when Hussein ruled Iraq there were Christian churches there. They are gone. We are leaving the country to the Islamic Fascists of the Middle East, especially those in Iran and Pakistan.

    Moreover, we are not asking the Iraq government to repay our financial losses despite there oil reserves.

    Why is that?

    Our government has been infiltrated by losers from the top down. It is not about Republicans or Democrats. It is about the anti-American ideology and get a piece of the pie mindset of those in office.

    Clean house in 2012!

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  • progressoverpeace

    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.

    I don’t know about shelves, but the Porkulus is going to have a debt service life of decades.

  • John C. Randolph

    While it’s true that Obama asked for this boondoggle and many others, let’s not forget that the people who are actually responsible for spending this money are the 535 members of the Congress. Look up how your senators and representative voted, and if they’re wasting your money, bounce them the hell out of office.

    -jcr

  • Ginger

    Hurria..I finally won $3.00 on Power Ball but bought $5.00 a loss of $2.00 😀

  • Mike E

    And lets not forget that the investment in Iraq brought freedom to Iraq and was the first major victory of the Global War on Terror. The Obama stimulus achieved 0 net jobs created, inflation and a vast increase in the debt owed by our children

  • Ginger

    If John Boehner is up for re-election I hope that his people votes him OUT! He is worthless!

  • gus

    For what??? Saddam Hussein was responsible for atrocities of BIBLICAL PROPORTIONS. The WEAPONS he used, the MILLLLLLIONS. Yes MILLLLLLLLLLLLLIONS who lost their lives, as he INVADED, RAPED, WARRED and MURDERED will not be REPEATED.

  • gus

    Ginger, who would you prefer to John Boehner, in his Cincinnati District??

  • Ginger

    gus

    How about someone else take the leadership in the House is what I really meant!

  • Ginger
  • gus

    Ginger, I agree. Boehner proves that RINO’s aren’t RINO’S. Boehner IS the REPUBLICAN PARTY.

  • Patty

    Solyndra to Auction Assets, But Taxpayers Won’t See a Dime

    http://blog.heritage.org/2011/10/21/solyndra-to-auction-assets-but-taxpayers-wont-see-a-dime/
    Heritage Global Partners, which is conducting the auction, told Scribe that the money raised “will not be anywhere near” $75 million, meaning the proceeds will go entirely towards repaying Solyndra’s private investors (though later asset sales may exceed that threshold).

  • Patty

    The Disgrace of Obamanomics

    Keynesian Economics, RIP

    This catastrophic failure for America’s working people has resulted from President Obama doggedly following exactly the opposite of Reaganomics in every detail. In particular, Obama came into office with his Rip Van Winkle attitude pretending not to notice that anything has happened since 1981, and returning to the failed Keynesian economics of the 1970s with a vengeance.

    As the Journal explained it this weekend, President Obama “deployed the entire arsenal of neo-Keynesian policies to lift domestic demand,” including “nearly a $1 trillion in stimulus, plus a battalion of temporary and targeted programs: cash for clunkers, cash for caulkers, tax credits for homebuyers, 99 weeks of jobless benefits, ‘clean energy’ grants, subsidies to states, and so much more.”

    Keynesian economics is the doctrine that economic growth and revival is caused by increased government spending and deficits. The increased spending and deficits are supposed to increase aggregate demand for goods and services, which supposedly causes producers to produce more. If you listen to President Obama carefully, he is always saying that economic growth and prosperity comes from increased government spending.

    If the idea that increased government spending and deficits create prosperity doesn’t seem to make sense, that’s because it doesn’t. Keynesian economics has never worked, not when it was born in the 1930s and not when it finally crashed and burned in the 1970s with double-digit inflation, roaring unemployment, and deep recession all at the same time. That is supposed to be impossible under Keynesian economics, because you can’t have both too little aggregate demand (the supposed cause of recession and unemployment) and too much aggregate demand (the supposed cause of inflation) at the same time.

    The Disgrace of Obamanomics……….read more

    http://spectator.org/archives/2011/08/03/the-disgrace-of-obamanomics

  • gus

    Patty, Obama is NOT practising Keyneian Economics. He’s a COMMIE, and he’s trying to destroy CAPITALISM and CREATE chaos.

    Some LIBTARDS BELIEVE otherwise.

  • Patty

    OT…sorta

    Economic Meltdown Spurs Droves Of Criminals To Take Over Abandoned, Foreclosed Homes

    “They’re becoming a magnet for criminal activity,” said Deputy Inspector Miltiadis Marmara, the commanding police officer of the 133rd Precinct in South Jamaica, Queens, New York, to the NYT concerning the excess of foreclosed properties. “[The criminals] hang out in these abandoned homes that may be foreclosed, or the owners walked away. Every day we respond to something to that effect.”
    Criminals looking for places to sell drugs, throw parties, steal copper piping and other valuables, and even host residential “strip clubs” are finding refuge, if you will, in these abandoned properties. And although police continue to arrest these squatters, others often just take their place shortly thereafter.

    New York is not the worst state as far as foreclosures go, either. In Michigan, one of every 322 houses is a foreclosure; while in California, it is one of every 259 housing units. And in Nevada, the foreclosure rate is a whopping one of every 118 housing units (www.realtytrac.com/trendcenter/trend.html)

    Obama if had 1/2 a brain should have tried working with those who know the business of Reality and Mortgages. Honest to goodness intelligent people for the beginning of his first years in office. I’m NOT talking Fannie or Freddie people nor Dodd and Frank…honest people.

  • Patty
  • buzz

    To be fair, not only did Obama’s stimulus save 47 trillion jobs, but also protected the continental united states from being destroyed by feral elephants. So he’s got that going for him.

  • Patty

    Growing home foreclosures pinch Kansas utilities another aspect of vacated homes.

    Thanks Obama. Employment, Housing Markets, Jobless Rate, Poor Economy and you have done nothing but continue your habit of spending. Where is your mind. Who are you exactly. What is your end game. Military Defense Fund maybe.

  • Patty

    Tea Patry Kuddos Right again.

    Knew this was coming and one good thing, there are those who are in the Congress and Senate who share the Tea Party’s sentiments.

    Look for a whole new senate after 2012!

  • gus

    Patty, we got RON JOHNSON here in Wisconsin. He is EXCELLENT.

  • Patty
  • Patty

    gus

    he really is a wonderful man. one of the best!

  • MrGoodWench

    Patty commented:
    Solyndra to Auction Assets, But Taxpayers Won’t See a Dime
    http://blog.heritage.org/2011/10/21/solyndra-to-auction-assets-but-taxpayers-wont-see-a-dime/
    +++
    Here are some ” strange things” about this sordid money laundering scam :
    1. The moment Solyndra execs decided to go bankupt, they conspired with Obama to collect their money before the taxpayers.
    2. The CA Democratic Party is listed as investor in Solyndra, although they invested nothing
    ( atleast thats what they say )
    3. When the assets are liquidated, Solyndra’s creditors will get paid first , dollar for dollar.
    4. When taxpayers bailed out GM and Chrysler, creditors got 29 cents on the dollar.
    5. When taxpayers funded Solyndra , creditors will get 100 cents on the dollar.
    Now WHY exactly is 4. and 5. happening ?????

  • Patty
  • Patty

    MrGoodWench
    #39

    This is why I am scared for the election in 2012. People are not aware like we here are.

    The voters must not make the same mistake twice. We cannot afford them, too.

    night all!

  • American Woman

    *Congressional Reform Act of 2011

    1. No Tenure / No Pension. A Congressman collects a salary while in office and receives no pay when they are out of office.

    2. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.

    3. Congress can purchase their own retirement plan, just as all Americans do.

    4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

    5. Congress loses their current health care system and participates in the same health care system as the American people.

    6. Congress must equally abide by all laws they impose on the American people.

    7. All contracts with past and present Congressmen are void effective 1/1/12. The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work. If each person contacts a minimum of twenty people then it will only take three days for most people (in the U.S.) to receive the message. Maybe it is time.

    THIS IS HOW YOU FIX CONGRESS!!!

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  • Rose

    Those contractors best pack and leave pronto – this makes them very likely targets for kidnapping and other murderous plots.

    No paychecks are worth it.

  • Patty, we are looking at a rout of biblical

    proportions. The black community has received

    Nothing but greif and unemployment on a grand

    Scale from Obama. I have been informing them

    remember Obama stopped the Bush recession?!

    This current recession is all Obama?! Simple

    Logic even for the logic impaired. Obama is an

    Anti capitalist, how’s that working out for America?

    Even with affirmative action policies black

    unemployment is double that of whites. How

    Under skilled/motivated the black community

    Has to be to take advantage of affirmative

    Action Policies. These policies hurt you not help.

    Get off the plantation and become an American

    Citizen like your forefathers. They endured slavery

    To become citizens, you went back to slavery and

    Quotas. Pathetic human behavior, dishonoring

    The mother and the father. Rise/wise up, aint

    Nobody keeping you down but YOU.

    Powder is dry

  • Molon Labe

    #42

    Great points but I would suggest the following:

    1. No felon can serve in congress nor any individual disbarred from a federal or local office.

    2. No member of Congress shall serve more than six years.

    3. No member of Congress while serving may have any family member acting as a lobbyist in any capacity.

    4. Congress shall pass no bill of any type that causes the government to invest in any private activity nor guarantee loans, performance, etc of any private entity.

    5. Any member of Congress charged with wrong doing shall be judged not by the Congress but by the Supreme Court.

    6. The Congress shall have to over ride any Supreme Court decision with a 60% vote. If any judge is over ridden three times he shall be removed from the Supreme Court.

  • Marty

    Nice headline, but:

    1. The direct war costs do not include the long-term costs for the Veterans Affairs Dept., nor do they include the future cost to repair and replace the worn-out, damaged and lost equipment.

    2. OTOH, Why focus on just the ARRA Bill? Some of the commenters write about the $23T total bailout obligation, that’s a huge number but it won’t all be spent, far from it; but it will add to the Stimulus bill.

    3. We continue running annual deficits of about $1.3T even when the ARRA spending is just about done. No one seems to have noticed how the Dems, particularly, jacked up baseline govt spending since taking over Congress in 2007. It’s not enough just to reject future Stimulus proposals, we have to roll discretionary spending back to about the 2007 level, and then deal with the entitlements.

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  • California red

    I suppose I am not a conservative if I believe we didn’t need to start the Iraq war in the first place. Sure the stimulus was more costly, but that doesn’t mean invading iraq was the t thing to do. And plus, the war was still expensive, financed with debt and the blood of our soldiers.

  • P. Aaron

    The MSM’s already got the back-hoe out diggin’ a hole to bury this story!

  • chuck in st paul

    Headline news on ABC, NPR, and the dead tree media in 5… 4… 3…

    [ yeah, as if ]

  • chuck in st paul

    #52 October 23, 2011 at 10:08 am – California red

    The invasion of Iraq was a strategic decision. It put Iran between a rock and a hard place (Afghanistan). Where it fell apart was the US not supporting the uprising in Iran. That was the goal – replacement of the theocracy with some sort of non-religious government, preferably a republic. Obumbles’ and Shrillary’s so-called ‘smart diplomacy’ allowed that wonderful moment to die on the vine.

    Now the likely outcome is that Iran will take over Iraq as a client state via al Sadr. If that happens our troops will be back in the Middle East shedding blood in around ten years. I am so sick of half assed measures leaving a mess for later that always winds up costing the lives of our military folks.

  • Valerie

    #52 October 23, 2011 at 10:08 am
    California red commented:

    All true, to the extent stated. But if you will recall, there are those who have been claiming (most notably the President of the United States) that the real economic problem in this country was, and has been, the war, and other problems handed down from the last administration. That particular point is simply not true, as illustrated by the graph above.

    Yes, we had war expenses, yes we had a housing bubble, yes, we had a recession. The policies of the present administration were supposed to deal with the economic repercussions of those problems. They failed to do so, and in fact, worsened and prolonged them.

    If we are going to solve our economic problems, we need to know their sources, and have a method of dealing with them. The first step, therefore, is to look at the numbers, and compare them with the proposed solutions.

    This graph isolates one effect of The Stimulus. A second one could be made illustrating the effects of The Stimulus on our employment figures. The President has proposed a second Stimulus. Given the results in the graph, without a stunning reversal of the unemployment problem (which we do not have), I can find no reason to support a second Stimulus.

  • Phil

    These are only the direct costs of war. A Brown University study http://costsofwar.org/ puts the figure at $3-4 trillion.

  • Valerie

    Despite the failures of this administration, the Democrats are raising more money than the Repubs. The Politico has an article that says why.

    http://www.politico.com/news/stories/1011/66627.html

    They call it “fundraising.” Some people call it “kickbacks.”

  • Valerie

    #57 October 23, 2011 at 1:20 pm
    Phil commented:

    Fine. Add in the cost of all the lost income of those people who became/remain unemployed to the chart above, and you’ll have a better comparison of the indirect costs. I won’t even ask for a calculation of the lost opportunity costs.

  • Paddy

    WTF. The Iraq war costs will be all for naught. Iran will have its own way in Iraq. Obama’s smart diplomacy has destabilized the rest of the Middle East. Tunisia is expected to elect hard line Islamic Sharia compliant government. The new Libyan PM announced yesterday that the new government would apply Sharia law. Egypt appears ready to follow suit. Turkey has gone off the Sharia deep end. The next successor crown prince in Saudi Arabia appears to be Muslim hard liner.

    Israel is screwed. So are we and Europe.

    BTW, I recall from my infantry basic training that anyone who leads from behind is a coward. That label fits Barry quite well.

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  • Questionman

    This was published over a year ago. The actual military appropriations is closer to $800bill. And that figure doesn’t include veteran health and disability costs nor the money spent on rebuilding the Iraqi infrastructure. It also doesn’t factor in the infinite cost in human lives.

    Comparing the Iraqi war and the stimulus program is a rather pointless endeavor.

    That is a lie, you racist Obama-haters are beyond pathetic!

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  • Funny, Questionman … you call us racist, but have no problem with keeping other people of color oppressed under the most brutal forms of tyranny.

    Iraq was headed towards becoming the new, high-tech, cash-flush, Afghanistan 2.0 … until we intervened.

    The waste, is to see the decisive confrontation of tyranny squandered (once again) by the purveyors of moral equivalence between dictator and democrat … the same people, BTW who have encouraged the American people to trade their right to pursue happiness and control their own socio-economic destiny, in favor of top-down “guidance” from these same people … a facade of wisdom that has now fallen apart before our eyes.

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