This is something that conservatives had long believed, but until today we didn’t have the ultimate sledgehammer to pound Democrats on the issue: the Congressional Budget Office estimate.
The CBO today released a report showing that the total U.S. expenditures in Iraq came to $709 Billion. A staggering amount, no question…but still about 15% smaller than Mr. Obama’s $862 Billion 2009 Recovery Act (a.k.a. the Obama Stimulus).
The numbers are incontrovertable.
The CBO figures show that the most expensive year of the Iraq war was in 2008, the year when the surge was in full swing and the turning point in the war. The total cost of Iraq operations in 2008 was $140 billion. In 2007, the cost of Iraq operations was $124 billion.
According to an analysis by the American Thinker’s Randall Hoven, the cost of the Iraq war from 2003-2008 — when Bush was in office — was $20 billion less than the cost of education spending and less than a quarter of the cost of Medicare spending during that same period.
The deficit numbers are even uglier.
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.
In 2007 and 2008, the deficit as a percentage of gross domestic product was 1.2 percent and 3.2 percent, respectively. It was 9.9% in 2009, and will be 9.1% this year.
Democrats have little defense for such spending…especially considering the lack of results we have seen.
The righteousness of the Iraq War can be debated among reasonable people, and only the history books (likely decades from now) will determine if it was worth the cost, not only in money but in lives.
But there is no debate about what has cost more to this country’s pocketbook.