Iraq war to blame for weak economy?
A cashier at a Travelex Bureau de Change counts U.S. Dollars in exchange for British pounds in London. (PHOTO CREDIT: GETTY IMAGES)
FROM CNN's Jack Cafferty:
The growing cost of the Iraq war is one of the main reasons our economy is struggling.
Congressman John Yarmuth of Kentucky said in the Democrat's weekly radio address that the Iraq war, now in its sixth year, has cost the U.S. more than half a trillion dollars. Yarmuth says the conflict is quote "not only linked to our economic skid, but is a leading cause of it." He highlighted the crumbling infrastructure here at home while taxpayers fund an Iraqi government quote "riddled with waste, fraud and corruption."
A recent poll found 71% of Americans think that our spending on the war is a reason for our economic problems.
Meanwhile, a piece in today's New York Times looks at where else the U.S. could spend the estimated $1 to $3 trillion the war in Iraq could end up costing.
At the low end of the estimates of about 120 billion dollars a year... the money would pay for the projected cost of Hillary Clinton's universal health care plan. Or it could pay for Barack Obama's health care plan and his proposed bailout of homeowners submerged in the mortgage crisis. Or, it could pay for developing new renewable energy sources to get us off Mideast oil and a national public works program. Or, it could go toward a long-term fix for Social Security... or the unpaid part of Medicare… and on and on and on. Instead it's being used to finance a war that is going nowhere.
Here’s my question to you: How much is the Iraq war to blame for the state of the U.S. economy?
Interested to know which ones made it on air?
Brian from Pennsylvania writes:
When I stop to think what we could have done with the hundreds of billions of dollars the U.S. has spent there, it makes me sick. Had we forgone our follies in Iraq that money could have been spent to truly destroy Al Qaeda, improve our foreign relations and standing in the world, develop alternative fuels to reduce or eliminate our dependence on Middle Eastern regimes, provide healthcare to ALL Americans, update our straining infrastructures, as well as pay down a chuck of the national debt-and still have money left over!
Mike from writes:
The "downturn" in the economy, if there is one, has nothing to do with Iraq and everything to do with the sub-prime lending issue. The mortgage meltdown has its roots in the Carter administration's Community Reinvestment Act that was strengthened by Clinton. It forced lenders to make risky loans to poor credit risks or be prosecuted by the government for discrimination. This worked fine as long as prices kept rising. But once the bubble burst, people defaulted on loans they should not have taken in the first place.
Karen from Idaho writes:
Hi Jack, The Iraq war has certainly slurped up money that could have been better spent on things here at home. The decline of our economy, however, is the result of the great "sell out" to China, India, Mexico, and all of the other places that absorbed American companies. Our jobs are gone, our factories are gone, our ability to achieve the American dream is gone.
John from Montana writes:
Let me think... We lower taxes and increase spending? Our national infrastructure is in shambles (along with our middle class.) The Soviet Union went bankrupt in Afghanistan, we are about to do the same in Iraq.
David writes:
The war has not helped, but the primary cause of the economic problems is an epidemic of indulgence in America. We have ourselves to blame. We are a buy now, pay later society. The Iraq war has not forced any of us to tap out our home equity and go on a buying spree.
@jackcafferty on Twitter
On a scale of 1 to 10...9. I've written to all three of my political representatives asking for an accounting of where my federal income tax is directed. All three have failed to respond. It would be reasonable to say that the majority of US income tax is being channeled into the Iraq war with little, if any left over for health care, infrastructure, veterans' benefits, education, employment and much much more. This country's economy is crumbling, thanks to George Bush's blunder of the century.
The President says spending on the war actually helps the economy. He is right. Manufacturers of coffins and artificial limbs are experiencing a boom.
Ed Reed
Port Aransas, TX 78373
I'd say: close to 100%. besides grinding up our most precious human assests, the war is a "money pit" of woes, with billions being misused and stolen. My great-children will never finish paying the debt incurred by Bush's hubris and ill-advised attempt at Middle-east hegemony; and other irresponsible economic policies.
Worst of all, we're letting him get by with it!
Jack, it is clearly obivous that the war is taking a huge toll on our ecomony but, there is one issue that has not been discussed that I think should be. Since the age of recent technology, it has made it possible to do things with less than in the past and we have gotten to the point that it has made jobs become instinct. And since the corporations are so much more concerned about the bottom line and their shareowners, why hasn't or won't anyone step up and point this out? Technology that has made jobs more "automated" which has meant less staff and has led to outsourcing for cheaper labor, I think and feel that we may have to cut back or even stop going to that type of operation within every company so that there will actually be jobs for people to earn money so they in turn can buy the products and services from every company in this country.
I know in what I just said seems like I am not for technology but let's be real about it, there have been so many things that have been developed that has made jobs that was of the norm back in the 70's and further in time, a thing of the past. For example.......do we really need a device to show us how to get to a certain place.....have we gotten that lazy that we can't stop along side of the road and read a map? Do we REALLY need to watch tv on our cell phones? I hope everyone can understand what I am trying to get at with this
Forrest
Olathe, Ks
The war in Iraq is part of the blame, but the bigger blame is the government which continues to go in debt for this war and a lot of other things. We have been so poorly managed as a country and if we were a business we would be declaring bankruptcy. Bush gave tax cuts to all citizens and then had to borrow money to run this country. If I gave away my money , and took a wage decrease and then had to go out and borrow money to pay my obligations my family would be asking for a sanity hearing.It's the old "madness of King George" again.
When I was in school, we were taught that WW II pulled the U.S. out of the depression. I remember my economics professor saying that war was good for the economy. I think we were headed for a recession in 2002 and that the war delayed the down turn. By funding the war on credit and not paying for it, will make this recession worse. We may be talking depression in a few years instead of recession. As a great poet once said, "a hard rain is gonna fall".
Plenty and the reason Bush don't want to bring home the National Guard is because their jobs have gone overseas and the unemployement rate would be way off the mark. He wants a legacy and he will have one as the worst the Americas ever had.
As the War of Mistakes continues in Iraq, our debt grows. The dollar falls and with oil uncontrolled, our economy is dying! The housing problem is purely on the stupidity of Banks! These so called professional ran amuck with no guidance or control from the Government! Put this all together and it adds up to Bush!
This man ran two companies given him by his family and oil friends to run, into the ground. And so we elected him to do the same with the Country! If we are so blind to the lies and corruption in the White House and unable to do anything about it then we deserve what we have! Failures in almost every discipline of our society. Education, Health Care, Insurance, Engineering, Justice Department, Foreign Affairs, VA Health System, Medicaid, Medicare, Social Security, the State of our Military, all have suffered under the Bush Administration. And sadly, half of our people want more of the same with McCain!
Until we the people get mad enough to mach on Washington in numbers that will matter and demand better, we loose! I have a real fear that we may never turn this around and the words of Stalin are coming tree, "The US will be destroyed from within."
A Keynesian economist might simply say, we are in a recession because consumption and investment spending is significantly lower than the GDP. Is this because of the housing crisis, stock market volitility, a natural downturn because of the business cycle, or some combination? It is hard to see this reduction in spending as directly attributable to the war in Iraq, however. Historically, wars helped get us out of downturns, because the increased war production yielded jobs. It's not clear if that is occurring now, but if it is, the economy might be worse off if the war ended.
I still want it to end, I am only giving an economist's point of view here.
Hey Jack,
Let me see!!!
The price of oil before the war,compared to the price of oil now.
Need i say more?!!!!
Ray,Florida
Jack: Spending $275,000,000 per day on the Iraq War is the right number. It is the right number to supply, for a full year, 687,500 K-12 students with needed educational tool such as required text books and technology tools.
It is the right number to feed 1 million starving children in our country for a whole day.
The number could provide healthcare for over 30,000 needy individuals even at today’s high cost (Yes that is at $10,000 per year).
This number could supply a stimulus package of $600.00 for 458,333 tax paying American’s, two days of war would pay for almost 1,000,000 individuals receiving stimulus packages. I week of war and we could provide the whole population of the US with the proposed stimulus ( do you feel ripped off yet?).
We should have a check box on our taxes that says where we want our taxes to go. I would not check the IRAQ war box. Maybe those getting stimulus packages should send them back…..wouldn’t that be cool!
We can sit around and blame Iraq for our economy but doesn't this all fall to the person who put us into the war and the Congress that doesn't have the guts to cut the funding. Is Iraq at fault for people who borrowed money to buy a house from shisters or oil companies who are making record profits from gas prices and we refuse to change our ways to cut our gluttonous behaviors. So who is to blame? We are. Sure the Iraq expenses are affecting the deficit for the future of China's economy.
Well I hope someone out there has a good answer for this because who knows, really?
Have we ever before paid for a war with deficit spending? This seems like uncharted territory.
Here's my theory:
-General lack of faith in our government
-the constant media coverage of the down turn
-spending on the war
-unfair lending practices
All of the above and much more contributed to our weak economy.
A lot, Because the money we spent on funding Bush's personal vendetta in Iraq could have paid for a lot of stuff we really need at home such as universal healthcare, repairing our infrastructure, creating alternative energy so that things like this wouldn't happen again. It's a shame that the average person is suffering while the companies, war contractors, and greedy parasitic executives are prospering off the Iraq War. The founding fathers are spinning in their graves wondering how so many people re-elected a complete moron.
The war in Iraq is sinking our economy like the gash in the side of the Titanic. Our elected officials and military leaders continue to push the war with a different objective each month. WMD's, removeal of a Brutal Dictator, Democracy in the Middle East, stopping AlQueda before they attack us again, keeping Iran from taking over the region and on and on and on.......While our contry goes down, our "leaders" seem to only be interested in re-arranging the deck chairs.
If it is truely a REAL war, revoke the tax cuts, reinstate the Draft and start the rationing like it was in WWII, let everyone share the sacrifice, not just the troops and their families.
P.S. get better control of the well connected contractors that have been steeling the taxpayers money.
The war in Iraq is a large part of our economic woes, but when you couple that with outsourcing jobs to countries like China and India, our economy is tanking. If we do not come to grips with this soon, this so called recession with certainly deepen into a depression.
Jack, It has everything to do with it, This administration has cut domestic spending by leaps and bounds except of course the WAR, Halliberton's Kellogg brown & root ,and every other administration crony.
We need another Trade Agreement, lets trade in our Politicians for new ones, I think that's fair trade for the American people.
The war in Iraq is a large part of our eonomic woes, but when you couple that with outsourcing jobs to countries like China and India, our economy is tanking. If we do not come to grips with this soon, this so-called recession will certainly deepen into a depression.
The war has played a part, as it has driven deficits up, but a slow economy was inevitable even without the war. All of the policies directed at supporting the top income earners are eventually harmful to everyone else. Tax cuts, subsidies, lack of regulation, trade agreements that allow foreign manufacture of American goods. All of these things add up. Some companies and some industries are doing very well. Some from war profiteering, some due to all of the other policies. But our national economy will not hum along forever without consumer spending and investing. So whenever you pass another closed-up business, don't forget to thank a Republican.
It has everything to do with the economy we have now. nearly everything this Administration has done, the price of gas and the war all have put us into this mess. I only hope Hillary will be given the oportunity to clean up this mess as Bill did to the mess left by King George I.
Is this a trick question ? The IRAQ war (Bush's war)has everything to do with the economy. Factor in us borrowing money from China at alarming rates,the lack of tarfts collected (because our idiot congress took them out of law),and spending like it grows on trees. This administration has been the worst in history,they believe that they are above the law and the constitution.....
Seattle Washington
With the cost to date in excess of $500 Billion, I'm not sure why you're asking this question. Here's my question to you, Jack. When there is no war, where does this $500 Billion go? I ask only because before the war, the money didn't seem to exist for education, health care, infrastructure, law enforcement, lower taxes . . . .
There are three factors regarding the state of the economy of a mismanaged nation: one is inflation of the currency; the second is war; and the third drives the first two, profits. All bring temporary prosperity; and all bring a permanent ruin. These are refuges of political and economic opportunists.....and profitability doesn't happen when you're walking on b***hit.
I think its huge! I don't think its the whole reason as I also blame NAFTA and Globalization. It may just be my bitterness talking but america as it is currently is just plain sad. We cant help ourselves much less others.
Obama 08
April in Austin Texas
50% Iraq war...50% Clintonian China and other free-trade deals.
Gee, do I think spending at least $750 billion so far on the Iraq War with no end in sight is hurting our economy? Are you kidding me? How's this for history repeating itself: The Vietnam War "only" cost us about $133 billion. The funds were going overseas, which contributed to an imbalance in the balance of payments and a weak dollar, since no corresponding funds were returning to the country. In addition, military expenditures, combined with domestic social spending, created budget deficits which fueled inflation. Anti-war sentiments and dissatisfaction with government further eroded consumer confidence. Interest rates rose, restricting the amount of capital available for businesses and consumers. The Vietnam War was an important factor in bringing down the American economy from the growth and affluence of the early 1960s to the economic crises of the 1970s. The Iraq War is doing the same to us now and we will suffer the consequences for a long time to come.
Jack, as they say, do the math.
Our economy was not so bad until we invaded Iraq and threw billions of US dollars into the effort to free them from tyranny.
My question is: When will the Iraqi's start sending some of their free oil over to us in payment for their freedom from Sadam Hussein?
The war caused gas prices to go up dramatically. Much of the cost of a barrel of oil has to do with the security costs to get it out of the region. The high cost of oil trickles down to most of the things we need or do in our daily lives from heating our homes to surcharges on products being shipped to our stores. The war is the reason we're struggling and yes...'bitter' right now.
Yes, totally, absolutely, and 100%. It's just simple math. All that money leaving our country to be pissed away by corrupt Iraqi's who actually hate Americans, is simply the biggest blunder, financial and otherwise, in the history of the USA. If even half that money was invested in the US economy, we wouldn't have a budget deficit, the dollar wouldn't have become so devalued, and the subprime mortgage meltdown would be an easier storm to weather. It's now an almost impossible situation.
The Iraq war contributes quite a bit to our current economic situation. Iraq has cost a lot of money, which is part of a huge deficit. This deficit has weakened the value of the dollar, which causes the cost of oil to go up.
Of course, buying foreign goods is the bottom line for most of our country's ills, and although I would like to blame the Bushies, the fact is WE kept electing this bunch and giving them the power, as well as WE keep buying foreign goods.
There is nothing that makes me more "bitter" than being having a big gas hog SUV zip by me on the freeway, then watching them complain about the high cost of gas, and expecting someone else to pay for it.
Harry
Ky
The war in Iraq is costly our country a great deal of money that is true. However, I don't think it is solely the blame for the economy. The blame in my opinion goes to the politicans that have allowed manufacturing jobs to go off shore. The U.S. has turned into a service country rather than a manufacturing country, which use to give us an edge in the world. When you don't have a well paying job, you are not going to be able to purchase a home or pay your mortgage, put food on the table, put gas in your car, or pay for education. It's the economy stupid, YES. It's not the war in Iraq though. It's an inadequate administration and a Congress that has enabled this to happen. Perhaps if Congress had spent more than 90 days at work this might not have happened.
Bush 43 is to blame. He cares only about his rich friends and his own pocket book. The second person to blame is Nancy Pelosi for not impeaching Bush. She could have put a stop to Halliburton's excesses, the sacrifice of our military, and the destruction of our economy via Iraq. As she continues to ignore calls to impeach W, she is just paving the way for him to bomb Iran when he has 90 days or less left in office. Care to guess what that escalation is going to do to the economy?
Jack,
I would say 40% is the war, 30% of the blame goes to our current president, senate and house and 30% of the blame goes on to the backs of the American people as a whole. You know that old saying, we are our own worst enemies, we as a people have seen this coming for a while and have only ourselves to blame because we have not held our government accountable.
Anyone who does not see the tie between Iraq and our economy needs to rethink their lives. Go to war, borrow, borrow borrow to pay for it. = economy effected.
Its the economy stupid
Jack,
To the extent the Iraq war is part and parcel of this eight-year hell that has been the Bush Administration, it is partially to blame for the current economic woes. It's also the tax cuts, the tax breaks given to big oil, outsourcing of jobs to foreign countries, NAFTA, etc. The do-nothing Congress is also responsible.
Collin
Hayden, Idaho
Jack, if the money we funneled into Iraq was used for our needs here, people may have better feelings about the economy and the future of our country. Schools, our thoroughfares and bridges, etc. could be improved throughout our country. Why use money to give jobs to Iraquis when so many here are unemployed? Still, much more has to be done to turn our troubles around, and that means giving Mr. Bush and the GOP the boot.
Jack,
How many billions a month are we spending? How much is being paid for with Iraq oil? Since the answer to those questions is too much and none at all and because we all know money doesn't grow on trees, even trees in China, I would feel confident in saying the current economic situation is a direct result of Bush's six month war. How can we spend so much in another country and ignore our own and then turn around and say the economy has nothing to do with Iraq? Just look at history, war has everything to do with the economic state. But last I heard it's the American people who are to blame. Isn't it always though?
Jack
Absolutely Iraq is at the top of the list, All the kings horses and all the kings men couldnt put Humpty back together again and Iraq certainly fits the discription of Humpty Dumpty. We are not only funding the war we are rebuilding Iraq. And the people of Iraq dont even want us there.
The iraqi war is to blame for as much as 90% of the economic woes. While the amount of money that we are spending in Iraq is outrageous, the fact that we have a president with a single track mind compounds the already bad situation. President Bush lacks the ability to multi-task and since he focussed on Iraq, every other aspect of goevernment has suffered. The same reason that John McCain has a slight understanding of Iraq and none about the economy. It wouldn't have been so bad if we had a president who recognizes that security is essential but that the economy, education and other facets of governance are equally important. So Iraq is so significant because it has consumed our money and psyche and allowed China who is responsible for the other 10% to run rings arounds us. We are so deeply entrenched in Iraq that any economic program that ignores tapering our involvement in Iraq will only scratch the surface.
Jack, the economic impact of the war has been huge. It's been a classic case of "guns and butter" economic choices, with the cost of butter – and everything else – rising at historic rates while education and other social programs are underfunded and the spending on Bush's bungled war spirals out of control.
The Bush War is entirely to blame for this mess of an economy. Bush had no plan for paying for his war. He wanted his war to be painless and popular. Too bad he didn't think this through before he started. The only plan he seems to have is to shove the problems he created onto the next president -how to pay for the war and how to end the occupation of Iraq and what to do with all of the prisoners at Guantanamo Bay. There are 280 days left in the Bush occupation of the White House.
A lot. A lot, a lot, a lot, a lot. A lot.
Jack,
it's pretty obvious that IF you take hundreds of billions of dollars from the American economy and send it to Iraq AND that the war itself has caused a huge "uncertainty premium" which has caused the price of oil to increase five fold since 2000, AND add the Bush administration's "spend and put it on the Chinese credit card" fiscal irresponsability which has beaten down the American dollar, THEN the American economy is going to suffer.
all three are directly linked to the Iraq War.
Jack, George W. wanted a big war he didn't need and couldn't afford. He bought it anyway, taking out a big mortgage (from us, the lenders!)ignoring the small print about escalating payments in the future As a result, the whole economy is now in forclosure.
The war is a major negative for the economy.
Equaly bad is the recent trade agreements faciliting movement of industry overseas, the excessive high tech visa, out-sourcing, and illegal immigration. If that isn't enough, we have the mortgage crisis, increasing gasoline costs, and lousey health care..
I don't think even the most hardcore Bush supporter could find anything good that has come out of this war if they gave a honest acessment. Of course the Halliburton board of directors and the other oilmen of Texas should be excluded or put in jail.
The only problem with blaming the Iraq war for the cause of our economy is the fact that we have not paid for this war, we just keep borrowing more and more from China. It will be the cause of the downfall of the United States and our children will have to learn to speak Chinese as their first language in the years to come.
The Iraq war has a big impact on the failing state of our economy, and it has made our country lose the respect of most of the people in the rest of the world including those that we refer to as allies. Unfortunately, "GREED" is the biggest contributing factor to our failing economy, and it also affects all other countries, especially those countries who have a resource (whether it be oil or cheap labor) that our big corporations want to exploit for a short term profit. I would like to thank Halliburton (Dick Cheney's affiliate) for supplying our taxpayers with so many "imaginary" meals to "support our troops" in Iraq. Oh, I forgot that Halliburton was called on the political carpet for that just like General Electric when they were over-charging our taxpayers so many years ago, and General Electric was again allowed to bid on government contracts after they paid the money back. I wonder how many over-charges have gone undetected.
With the kind of money being poured into Iraq, or lost in Iraq, there has to be some kind of effect. $8 to $16 per month over five years spent on health care, education, infrastructure, and New Orleans, for starters, would have greatly iimproved our morale, and made us less bitter during this economic slow down.
Jack, the answer is a resounding no, wars help our economy. It could be alot worse, though, we could have borrowed the money to pay for this war, then we'd be in real trouble... . – Jim Barton Malta, NY
Jack, on a scale from 1 to 10, I believe that Iraq gets a 9. That's only because everyone in America doesn't have a loved one serving in Iraq or Afghanistan. Home foreclosures and the loss of jobs overseas dominate the rest of the American concerns on the economy. Those two things are probably the "10" on the scale we are most concerned with followed by gasoline prices.
Is this really something new Jack? This gov has spent millions outside of this country while neglecting the needs of people here in the United States. The war has simply increase the amount of spending NOT being spent here. Until everyone gets fed up with our current administation, this won't go away. Unfortunately we have very greedy people in Washington and a not so smart president for allowing it. Apparently he doesn't care at this poing because his time s almost up. Is it ever going to end?
I feel like our Country's being PILLAGED.
all the blame in our Government because it allows the Iraqi government to use us and they are doing very good in this, not just using our money and they using our kids to do that all the blame is on the Iraqi war
count the dollars that g. bush has us spending there, for no reason to begin with , and see what they could do for the economy.
This illegal war has everything to do with our floundering economy!
It's the WAR Stupid!
Apison, TN
Phil from New Orleans
Jack – If Bush had been solid on any economic policy over the last eight years, rather than just rolling back taxes, and letting the money trickle back down, and letting corporations buy SUVs for a write-off, then possibly there would have been enough faith in him, and in policies to have both a war front and a solid economy.
But the truth of the matter is that Bush is a linear thinker – IRAQ IRAQ IRAQ, and he never finishes anything, so what we have had all along since he read his famous Goat Book, is one half finished project after another. This does not instill faith in Wall Street, Global Economies that depend on the USA, and in Main Street America.
And Jack, telling us that things will get better does not help. Our parents told us the Santa would slide his ample rump down the Chimney as well, and most kids figured that out pretty soon.
Phil
I think the cost of the Iraq war is a huge reason for our economic situation. I also blame Bush and the Congressmen who gave him permission to do so. At one time didn't Bush say that the rich oil fields would pay for the cost of the invasion and the re-building of Iraq? I guess that statement is the same as "Mission Accomplished."
Our country has suffered greatly both economically and in the brave lives of the soldiers who gave their lives for his vendetta. How sad. What
I can only hope that when the USA goes bankrupt like the USSR that we are able to recover as well. My saving grace is that I live in a blue state and maybe we might be able to split apart from the red states that elected this clown.
Anyone who believes the war is completely to blame for the economy isn't seeing the entire picture. Greed by people who already have more money than they can use along with a govermnent wh continues to doctor inflation and unemployment figures so those in power stay in power are only some of the reason. Add to this the need to outsource and sell every piece of our economy and country for profit and you have the implosion of the American Dream, the American Worker , and our country.
Joe
It is having no effect at all, mainly because we are not paying for it. We are borrowing to fund it and our kids and grand kids will be paying for it. The economy is bad because the admin had no real plan past the standard Republican Plan of tax cuts, no regulation, and subsidizing big business..
We see what the results have produced!
And its also what American deserve because GW was re elected convincingly by voters! You get what you pay for.
Sure we're spending a lot of money because of the war. But, don't forget that destabilizing the middle east has also given the oil companies an excuse for jacking up prices. And, because Bush lied us into a war while insisting that the rich needed big tax cuts, that contributed to the record deficits he's responsible for. Oh, and it also caused us to have to kiss up to the dictators in China, who don't believe in free speech or freedom from torture, so that we could borrow 800 billion dollars. But, those aren't the only reasons. How about the Bush administration's anti-worker, anti-consumer bias? Why should I spend money when so many corporations feel they have carte blanche to cheat me? How can I continue to spend like a drunken sailor when salaries go down while production and prices go up?
The war is part of the reason. George W. Bush and the corporate whores of the GOP: that's the full reason our economy is going into the dumper. cy gardner arlington VA
Government is to blame for the economy. I do not understand the logic of how a country exports all it's good jobs to overseas markets, then imports all the goods back into the country. All the while running up trillions of dollars in debt. We are in hock to the Chinese for our great grand children's futures, let alone ours. PhD's most used phrases are now, "would you like fries with that order ma'am."
Bill Gates actually gives speaches saying the fall of the American economy and rise of the Chinese to take over is a good thing that is expected. I have a visual of Nero fiddling.
Yes the IRAQ war has everything to do with the economy. We are spending so much on a war that makes no sence. I could understand if the iraq soldiers were learning and taking over but they have no intentions on doing that. SO WHY ARE WE?
The money that we have spent on the war is only a small part of the down pour of thr econmy. yes, this money could be spent at home but most of this is barrowed money. The following are the main causes for the failing econmy:
1. elected officals
2. government employees
3.big business (banks etc)
4.voters or non- voters
5.the general public for spending their hard earned money on china and other countries who hate us and want us to fail.
When I stop to think what we could have done with the hundreds of billions of dollars the US has spent there, it makes me sick. Had we forgone our follies in Iraq that money could have been spent to truly destroy Al Qaeda, improve our foreign relations and standing in the world, develop alternative fuels to reduce or eliminate our dependence on Middle Eastern regimes, provide healthcare to ALL Americans, update our straining infrastructures, as well as pay down a chuck of the national debt-and still have money left over!
yes,but,it started during the clinton years, when our military was cut,with base closings,and nafta was passed, that sent jobs overseas,when bush started the war in iraq it could only get worst.the politics of the past are over.
Maybe not too blame but it is certainly a very big factor. The wasted money being spent on Iraq could be spent over here to fix the things wrong with America
Jack, several factors are responsible, for the sad state, of our economy but the biggest reason is over 30 years, of trade deficits and the relenting outsourcing, of American jobs. A blind Free Trade Policy will ruin us, when the other players aren't required, to play fair.
You know who's bitter? Me. I am bitter at the thought that CNN will throw the Pennsylvania primary to The Clintons just like they did the Ohio and Texas races by giving them round the clock coverage of their campaigning. And yes, the people in Pennsylvania are bitter and angry because of phonies like Clinton and company doing anything and everything for power. Will "bitter" words hurt Obama's chances? Here's a novel idea. Why not invite a bunch of folks from Pennsylvania who have lost their jobs that Hillary's Nafta vote took from them and lost their children's lives that HIllary's war vote took from them and ask THEM if they are bitter. Better ask them to leave their guns at home!
The war has not helped, but the primary cause of the economic problems is an epidemic of indulgence in America. We have ourselves to blame. We are a buy now, pay later society. The Iraq war has not forced any of us to tap out our home equity and go on a buying spree. Our government also suffers from indulgence, borrowing and borrowing its way into an ever deepening hole. The best way to stop this behavior is to get rid of the shovel, and what this means is transitioning to a save first, then spend society, and that will be a very painful and very long transition.
I don't know what percentage is due to the global economy, oil prices,or due to the Iraq war, but I know that wasting our money on somebody else's soil is not a good strategy to get out of this hole.
There are 536 reasons for the poor economy and they all work in Wachington D.C. The war is just one place they spend our tax dollars. They've spent every penny we've given them, borrowed more and spent that too. Congress, leading by thier example, has given all Americans the right to spend more than they have.
99.9% of the economy problems with the trillions of dollars being wasted causing the dollar to nosedive on the international markets. With the value of the dollar dropping off a cliff and the amoubt of oil the military and the associates burning up every day I have heard this accounts for about $1.50 a gallon of the rise in the cost of gas.
I would respectfully say that it is not eveything but it is resposible for 98% of the reason for our poor economy. We would have health care for all and the Congress could repay the money they stole from the Social Security fund over the years if all the money was not going to Iraq and political cronies.
Jim, Prescott, MI
Long wars do tend to hurt economies in the long run. Also wars in the oil regions do bring up oil costs. We all are paying for Bush's lack of interest in the economy and his focus on fear. We need Roosevelt to say "the only thing we have to fear is fear itself."
this baseless war is the problem with our economy today, i am wondering who can stop this idiot president from spending our tax money for the benefit of the iranians and our enemies. c'mon american prople.
I can't believe this is even a topic for debate. It is so apparent that Iraq is a black hole that is ruining the economy our country. The Bush cabal has spent our country down the drain. We are so in hock to China that it is without doubt the biggest threat to our security. However, Bush's cronies like Halliburton must be laughing themselves silly all the way to the bank. And of course, Bush's answer to the whole mess is to "go shopping". Sorry that he is so out of touch, but most folks don't have any money to go shopping because the increasing costs for fuel and food is eating up any expendable income for "shopping".
And our illustrious leaders in both the House and Senate keep on giving this pathetic example of a president all the money he wants for his little war.
Imagine what the billions wasted on Iraq would have done for the infrastructure of America, for good health care for everyone, for our schools. It has all been wasted.
here comes the real kicker. i bet that somewhere down the line we will find out we borrowed money form the Iraq's to pay the Iraq's for their own reconstruction.
never have gotten the deal with blowing up a country only to turn around and rebuild it
let's start rebuilding our own country before we end up like so many great countries before us-in the gutter begging for the scraps.
Jack:
No need to be bitter over sending a trillion to support the fine country of Iraq.
Lew
West Yellowstone, MT
Jack yes our economic woes is mostly blamed on the war in Iraq. Bush and Cheney created this mess and look at all the money they've made. Has anyone noticed their tax returns? Bush's greed for Iraq's oil put us in this state.
When people start throwing around figures of a half a trillion dollars wasted on this debacle, it is no wonder we are in a recession. Perception is reality. What a disaster this whole adventure has been!
The war in Iraq just pushed the real situation to the front (and over the edge) and I feel there is going to be a lot more revealed. Think about it. People getting mortgages on minimum wage incomes, how long could that have stood the test of time? The banking institutions have been in trouble for some time, it doesn't happen over night. But when GW decided to go to war and devalue your dollar even more by borrowing from China to pay for it well you know the numbers. Without the war the banking, housing etc and all that would still be operational however tenuous. Don't worry pal Obama will fix all that too. ^_^
The bad economy and the Iraq war are joined at the hip. So much loss in blood and treasure and for what? I hope America's children and Iraq's children can one day find it in their hearts to forgive this crime. Very sad indeed.
hi jack
well all the money we have put into Iraq not just the war but oil will make Iraq a wealthie country without any debt for their grandchildren to bare,thank to Bush we will be in debt after we all die
I think that the war has about 80% of it, the oil companies raking in record profits and sticking it to the little guy 10% and last but certainly not least, the tax breaks to the rich. We are getting slammed on all sides. Help!
The sad fact is the presidential candidate nomination process is a sham. McCain, Clinton and Obam are unfit to serve, just different types of spots on the same cat. Until the American people demand a change in the primary and eventual nomination process or vote for a competent independent, they deserve what they get.
Iraq war is part to blame, you forget to mention the other reasons.
– Bush roughly 3 years ago did a national address where he encourage americans to borrow against the equity of their homes and called it "free money". (I think he never got past 3rd grade math).
– Bush forgot about the Great Depression (wasn't the saying about learning from the past can predict the future) and the save locks put in place because of it. So once again he pushed them asside so banks became physcally irresponsible and now everyone has to pay the price for it.
– Oh and my favorite, lets not forget Bush's first hand drive about the EV1 and other alternative fuel drives that where going (Didn't Reagan remove the solar panels off the white house?).
The toss in 500 Billion on Iraq and we just went from a national crises to a global crises.
Welcome to The Great Deprression of the 21st century!
Our economy is going down in flames. The Iraq war is eating our lunch, our grandchildren's lunch and our great-great-grandchildren's lunch. Part of the expense we are just beginning to pay for. Even when we get out, look at the thousands of veterans that will need expensive health care for the rest of their lives. I'm not complaining, just stating a hard cold fact. I love our soldiers and my best wishes go out to everyone of them. And we must not forget our soldier's mental health either. I am married to a Vietnam Veteran who suffers daily from the trauma of that war.
Everything simple as that!!!!!!!!
How much is the Iraq war to blame for the state of the U.S. economy?
Jack,
The Iraq war is not the blame for the state of the economy. WE THE PEOPLE are to blame for being apathetic in keeping up with affairs that concern us and for not participating in politics whether it be local, state or federal. How many people in this country can even name their represenatives at any level of govenment?
Jack, the Iraq war is a pit!
Here is the recipe for the current U.S. economic disaster.
Dig a deep hole, (half way to China)
Dump 'Tons' of cash into it, and I mean tons...
Add several boat loads of the Iraq people's despair.
Mix in the thousands of souls of the dead, the limbs of the wounded, the mental scars of the young and well intended.
Add buckets of lies, and misinformation from the white house.
Generously sprinkle with "greed' from the multinationals that are there to 'get all they can'
Keep on adding the cash, and more cash, and even more cash!
Lastly, add the key ingredient, 'trust'
Stir it around for, oh say six years or so...
The result,
a tarnished image & a sinking economy!
ITS NOT THE WAR STUPID
ITS THE ECONOMY
we spend like their is no tomorrow we drive like the gas is made of water and comes from the great lakes. we eat all you can and drink to cover up our shame of this life. It started in the 80's its trickle down economics.
we are members of everything club we have forgot how to cancel things which are wasteful
we act like we are the only ones on this planet and we are the cause of our own problems cause we let it happen from the top up and as we all knows it rolls down hill and as it rolls down it gains speed and the hits the fat splat.
they didn't invite us in its not their fault we are spending this money its our greed that did it and killing their children not ours. lets spend sometime talking to them and find out what they want out of this horrible situation and then respect them and do as they wish. wonder if that ever cost anyones mind to actually talk to them.
None of the things that money could address are things that remotely concern the wealthy or big business. The wealthy and big business have benefited from the tax cuts and are not too concerned about needing social security in their later years or medical coverage now. We are already a have or have not society. A sad comentary about our diminished humanity.
Recently read an article on this, $.43 of each tax dollar finances the U.S. military. Amazing what could be funded if we cut this number in half. Currently, $.03 goes to education.
While Clinton was in office nothing was done about the middle east, so much so that the vagrants tried once and were successful the second time at destroying the pinnacle of capitalism. Do you realize that if we abruptly pull out of Iraq now all that stuff will follow us back home? Imagine going to the grocery store and getting blown up. I'd rather that stay over there regardless of the cost. Imagine your wife being forced to wear a burka, not being able to drink coffee, listening to your favorite music, etc...
Its time to recoup those lost money by getting their oil for free for the amount of time until the cost of war gets recovered. This is the only way we will sustain, otherwise I can see the tough time is ahead.
look in the mirror for the cause of this mess
i did and saw me
and i did nothing to prevent it and since have done nothng but beg God for forgiveness and still done nothing
its me and if anyone else has the courage to stand up with me and say its me cause i let cast my vote in a wrong manner listenting to them tempt me with their lies into believing their false hope
With President Big Oil and Vice President Halliburton, I'd say it has plenty to do with it. We have been sold down the river by an administration that is wrought with greed, personal interests and no regard for the law or future of our nation. It makes me wonder what the real retirement plans are for these people. Take the money and run, comes to mind. We get what we vote for.
The IRAQ war is certainly a contributing factor but not the dominant reason to our economic malaise. It is the lack of political leadership on both sides of the isle that has led the housing bubble to burst. Remember where the fish stinks... from the head!
Yes Forest, we really do need these technologies more than ever. As an avid pilot, hiker, and boater, I would say that geospatial technologies are indispensable beyond the word and represent one of the few areas in which America has a commanding lead. If we are to compete in a globalized economy, then we must embrace this and foreever innovate; otherwise, I see idle factories and breadlines in the crystal ball. If your point was that life was much simpler back in the day, then I concede.
The Iraq war is definitely hurting our economy, but the blame belongs at the feet of the politicians for allowing corporate America to dictate the laws that govern the corporations.
Two years after the 2000 election, I spent a lot of time saying "I told you" to all I knew who voted for George. 8 years later, and I'm still saying it.
Who's at fault??? The morons who voted him in...again.
Well gee, let's see. $512 billion and counting to date with an estimate that it will end up costing the tax payers of the United States $3 trillion? The Bush administration "borrowing" billions from foreign governments and putting the United States deeper in debt then ever in it's history? I would have to say it has had a tremendous impact on the economy.
It's devaluing our dollar in immeasurable ways, having to borrow money from third-world nations to fight the Iraq occupation, which has a direct ripple effect on our once prosperous economy.
I believe 95% of our economy downfall if due to the Iraq war. We would have had a small drop over the past seven years but could have handled it adequately. If Bush had stayed out of the 3 other countries he's in progress of destroying we could have used our soldiers on the Mexican border to defend our country against the illegal immigrant invasion.
It is not only the war itself, but how this administration has handled the war, and the ripple effect of the war on other areas that have adversely affected our economy on many fronts. Yes, the war is costing us about $10 billion per month, but it has also caused extreme unease in the middle east which has been a big reason why oil prices skyrocketed. High oil prices of course affect transportation, production, service, etc.
Also, the fact that the Bush Administration, in its attempts to curb resentment toward the war and downplay its negative effects has dismissed any need for Americans to sacrifice or curb oil/energy use, or make any changes that might have a long term positive affect on the country and have instead asked Americans to spend, spend, spend – giving the general public a pat on the back into sky high debt, no savings, no road to energy independence, and a huge mess to clean up after they leave office.
But hey, the American public had a great role model the last 8 years! This administration has been reckless with its spending of our money.
While growing up, every time George Bush got into financial trouble, his father's friends were there to bail him out. Unfortunately, this time it is the American taxpayers that will be left to pay a high price for his actions will be cleaning up after him for a long time.
We're spending what? at least one hundred and forty-four billion a year on Iraq while the Iraq government sits on one hundred billion in oil money not using it to help their people. You tell me which government benefits and which is hurt.
Albert
Missouri
1. Fire every profession Politician and replace with true Patriots.
2. Cancel all foreign aid.
3. Make corruption a crime with a mandatory prison sentence of at least 5 yrs.
4. Cancel payments to idle land bank farms.
5. Cut the military budget by 50%.
6. Build roads and bridges to the extent of full employment.
7. In the name of peace, give Bush/Cheney life in a regular prision for war crimes.
The war in Iraq has significantly affected the economy due to both the direct costs of conducting the war and increased gas prices. It is commonly expressed by those for the war (neocons) that the price is worth it to insure that we win the war on terror. However, they fail to understand that the policies of the Bush administration are a blunder that actually harms the fight against terrorism. Like the cold war (which it has often been compared to), the fight against terrorism is really an economic battle. It cannot be won by either side through military operations alone. When, you look at the cost of the war to our country compared to the terrorists' expenditures, it is clear we are losing. We still have a lot of resources to use up before we capitulate; so if you like the idea of losing the war on terrorism elect Sen. McCain as he plans to continue the same ineffective policies.
Four Billion a week that we should be spending on our Infrastructure! If we spent that on a new WPA, the recession would be over. Think of what we could do with that money, rather than flush it down Bush's rat hole. We could be feeding the world, providing clean water to all and working on an alternative to oil. But oil is why we're in Iraq and why we won't be working on renewable alternatives.
This war has crippled our government's ability to respond adequately to the current economic crisis . . . not that an evenly split congress can accomplish much anyway. The cavalier attitude of the Bush-McCain war machine has exacerbated the problem of high oil prices by introducing more instability in the Middle East. The thousands of National Guard units who have been pulled out of the work force to serve in Bush's Vietnam have depleted the workforce and damaged productivity. The only economic benefit of this war accrues to Bush and Cheney's oil buddies, defense contractors, and no-bid contract winners.
Absolutely. The price of oil has,and continues,to kill our economy with its' domino effect. The worst part is that it is not even accounted for in the budget,it's borrowed from China and Saudi Arabia amongst others. The "funny" part? The buffoon in the White House cut taxes. Hopefully the next regime will end this war while,mercifully,we will see the worst administration in history fade away.
I believe Colin Powell said," If you break it, you have to fix it." Well the cost to fight it and fix it has cost us millions as well as lives. But I must wonder where that money goes. I only know my son showed me the home made bullet proof vest HE MADE to keep him safe while in Afghanistan. I would say 80% of our woes is due to the war. Hillary's Nafta and our ability to buy the American dream on credit is the other.
The economy is not doing for a variety of reasons. First and foremost it is an economy whose growth is based upon debt. Iraq is a huge part of the debt that is eating away at the economy. However, never in the history of the world has a country accumulate so much debt so quickly. The US spends and consumes and asia toils, works and saves. Americans borrow (2) billion dollars a day from foreigners to maintain our current standard of living. Three fourths (75%) of our GDP is based upon consumer spending or consumption. We have replaced save and invest with earn and spend, spend, spend. We are liquidating our national wealth. Our economic system has morphed into some type of disneyland. We have become fiscally and fiancially irresponsible at every level.
.
Hardly seems like a HAPPY ENDING heading our way. The knock on our door is that of REALITY, and it isnt happy with how we have conducted ourselves. Guess we are headed for the same fate of all previous empires?
Bush has ruined the economy with his senseless war and tax cuts for the rich, with his no-bid contracts for friendly corporations in Iraq, and from his sheer incompetence and cronyism. It is truly unfortunate that mismanagement of the American people's tax dollars is not an impeachable offense. It is even more unfortunate that the Republicans will not take the lead to impeach one of their own for the way he has ignored constitutional rights. It will take years to fix the damage he has caused.
The war on Iraq is only a part of the story. Would Americans be happier if Iraq and Iran ressources were in the hands of Russian Oligarchs?
A bigger problem is the American way of life. The standard American family house would not get a building permit in Western Europe because it does not meet standards of energy saving. A one time investment in thermal insulation reduces heating oil or gas consumption by 40% and a simple solar collector adds another 10% reduction. Investing once, and saving in the next 30 years is not an idea that matches the American way of life.
When you spend $12 billion dollars a month on a war, how can it not help to ruin our economy. Just think what we could do if we didn't throw away money on an endless war we should never have started. I cannot wait to be rid of the Bush Administration.
When I worked for the Energy Department in its Washington headquarters back in the early 1980s, we were actively working on alternative sources of energy knowing full well that the world was running out of oil.
But unfortunately, the Reagan, Bush I and Clinton Administrations did not follow through. Then, our Destructor in Chief did them one better and decided to waste a trillion Dollars of taxpayer money that could have fully funded a real alternative energy program with a "steal the oil" War in Iraq that backfired.
Now we're years behind in Alternative Energy programs and most of the world despises us but more important, we're may be about to see the biggest setback in our economy since the Great Depression thanks to $100 plus a barrel oil prices. Mission Accomplished "W".
The war has little to do with the economy. If we had the billions lying around or the fact that we had to borrow it the economy would hardly blink an eye at it. What hurt was letting company's even offer flex rate mortgages to begin with and high oil prices. Those two things are what effected and drove down the economy. Some people should just be renting till they actually have money saved to buy a house under the guide lines of a fixed rate mortgage.
Is the war in Iraq responsible for our economy woes DAHHHHH!! that and a President who should be tried for TREASON against this country along with the rest of his cabinet. They have done more that all the terroist combined to destroy than economy and lives of the people of this nation
It can be argued that the federal bank lowered interest rates substantially in the years after 9/11 in order to boost consumer lending programs meant to offset the costs of war funding on our economy. This has led to the infamous bubble and burst we are watching unfold before our eyes in the housing sector, not to mention the biggest deficit in U.S. history.
That's the good news. The bad news is that since most of this war has been funded "off budget", the real impacts will be felt by our future generations when domestic programs fall victim to budget restraints. How much is the Iraq war to blame for U.S. economic woes? The answer is: stay tuned.
We're outsourcing the war, paying for it with a credit card, and loosing our capacity to manufacture. Houston, we have a problem!
The Iraq war is predicted to cost the American people $3 trillion. How many Americans would that help if the money stayed in this country instead of being used for murder? And it IS murder. It is very perplexing to me that our illustrious government is allowing bush and cheney to get away with mass murder and genocide. This government really sucks Jack.
Jack
As the late Sen. Everett Dirksen from Illinois use to say:
A hundred dollars here and a hundred dollars there, that can
turn into a lot of money.
Jerry
Roselle, Illinois
Only the talking heads and spinmasters of the right would say that its because of the policies of the Clinton administration that the economy is where it is. You know, try to blaim anyone other than their OWN 'side'. Meanwhile, most folks with at least 1/2 a brain will say its the war(s) and our current leaders fault.
Duh, Jack. Duh.
There are a lot of bitter people here. I hate GW as much as most of them for this illegal and stupid war. But some introspection is in order. How does the world know us? We are the entertainment and sports capital. That's what we sell. Bill Gates is on record for saying that he can't find the smart people needed to run his business. As much as you may hate him, the fact remains – our early education systems sucks, and it is a reflection of what the adult population wants and finds interesting. If you have a stupid electorate, you will end up with idiotic leaders. Funny thing is, higher education used to be the envy of the world, and still is to some extent. But we are rapidly losing in that arena too due to insufficient government investment. Because the American public isn't interested in intellectual pursuits, researchers in higher education hire foreign talent. These people, then go home. This is why you can get American quality healthcare overseas for a fraction of the cost. We have been educating the world to take over our country. Watch out people. You have only yourself to blame, people, don't blame your leaders, for you put them there, and you keep them there. In addition, no smart person would want to be in a political position because of the cruel press. Smart people make much more in the private sector anyway taking advantage of the idiots. You can only be taken advantage of if you let it happen. That's how this country was founded – people said they had enough with the status quo. Democracy works, but not by sitting on the couch and mouthing off. I happen to be in a position where I hire foreigners. Why? Because they are well-trained, smart, and are willing to work hard for a living, rather than feel entitled to the good life. To answer the question, the Iraq war may be the immediate cause, but the fundamental problems started a long time ago...
The Iraq war is the number one cause of our economic collapse. I only hope China does not decide to call in our debt because of the Olympic controversy and the Tibet crisis. If that should happen the United States will have a lot more to worry about than Iraq. George Bush and Dick Cheney have ruined this country and we may never recover from this diaster. I hope I am wrong but I don't see anything to convince me of that. George Bush needs to be impeached. Or perhaps we should let him go to the Olympics and then deny him re-entry into the country. Would China keep him?
to a very small degree
the oil barons( Bush , the OPEC) are responsible along with those people wanting to amnesty criminals who illegally enter this country and screw wages up /commit crimes/etc
the congress are responsible too , by allowing trade agreements that shift manufacturing away from the US and cost us jobs.
it is a multifaceted problem brought on by the selling out of America by our politicians
The Iraq War has had a tremendous impact on the US economy in that the billion's of dollar's spent fight this war has put this country in recession, forced rising fuel cost at the expence of the average American, forced people to decide weather to buy food or medication, own a home, or buy a car, infrastructure is falling in big cities and children are beign left behind.
Willie Fields Jr
Columbus, Ohio
to a very small degree the war has hurt , however ,
the oil barons( Bush , the OPEC) are responsible along with those people wanting to amnesty criminals who illegally enter this country and screw wages up /commit crimes/etc
the congress are responsible too , by allowing trade agreements that shift manufacturing away from the US and cost us jobs.
it is a multifaceted problem brought on by the selling out of America by our politicians
Back BB (Before Bush) the exchange rate US$ to Canadian$ was extremely favorable for Americans. Right now it has reversed; approxomately 60 Canadian pennies = 1 US Dollar. Yep, the Bush Administration has done wonders for our economy. At one time we were the only super power. Bush and crew have reduced the mighty United States to the status of third world debtor nation. Anyone have a clue how we are going to pay off a debt that is estimated to be as high as 16 trillion dollars. This debacle has been brought to you by the Neo Cons; conquering the world one oil rich country at a time.
Jack,
I think the Irag war has put pressure on the economy, but the real problem is good jobs that have left the country. We can make top quality products right here in the United States, but most large corporations are too greedy to make a reasonable profit here in the US, so they go where the cheap labor is.
The question of Iraq is not whether we are winning or losing but what's to be won in Iraq? The next question is is it worth $1-$3 trillion dollars, the lives, and quality of life of our soldiers? This read believes that only a pyhrric victory exists, and due to the borrowed costs, this war will unseat the US as the dominant nation in the world scene.
The ecomomy is in dire shape dut to the war.Not only the loss of lives.Tearing our country in half. But to spend billions each and evey month on another country and to do this on borrowed money is a no brainer Tell me how it can not hurt.
Let's not sugar coat the bitter pill of truth. President Bush, not the Iraqi's are spending a trillion on the Iraq war. The President and those politicians who have supported the war are guilty, and Osama bin Laden is laughing in his cave.
Recall, post 911... bin Laden sent the message that a failing US economy is far worse to Americans than the threat of terrorism.
The blame goes to President Bush. Period. The buck stops there, whether he or his loyalists and many apologists will ever admit it or not.
The answer to your inquiry is not exactly quantum physics. It is obvious with only an iota of common sense and understanding. King George and the worst administration in American history is leading the country to an economic shambles.
As an American, for the first time in my life I'm doubting Democracy. Since no one in power can seem to remove Bush and his administration and put and end to this horrific legacy, I find myself actually entertained by the idea of a military coup to remove them forcibly. Whomever they were, they would be hard-pressed indeed to do worse for the country.
The Bush war is responsible for our economic problems. The Administration is responsible for destroying the Constitution of the United States, shipping jobs overseas, tax cuts for big business, and no government oversight. We have lived for 8 years under Republican rule and we need a change. It is not John McCain.
Although the total war cost is staggering, it's not as if that amount of money is leaving the country and ending up in Iraq. Most of the cost associated with the war includes supplies, equipment and salaries. The war funding also gives the combat commanders the ability to identify and fund immediate needs for capabilities they do not currently possess. This ends up as contracts for American companies to provide these capabilities which provides for more American jobs. Once again CNN, please provide the whole story not just the attention grabbing headlind.
Why are we fighting a war in Iraq anyways? 9/11/2001? No, that was Bin Laden from Afghanistan. He is still a free man. Weapons of Mass Destruction? There weren't any. Sudam Hussein? We took care of him. So why are we still there? $, that's why. Greed is the root of this war. Lets bring our fellow Americans home and stop killing them for the sake of cheap oil. We could spend that money on solar research and start plugging in our cars. It's time for a major change in the way Americans think. We are not the center of the universe.
The administration went into Iraq saying that Iraqi oil would pay for the war and rebuilding. Only a fool would have looked at the Iraqi oil system which had been starved for maintenance during the 1990's and think that those old fields, pipelines and refineries were going to do much without massive investments. Oil and gas fields and processing systems need a constant input of capital to keep production up. The Bush administration had to have known the state of things. They just wanted a war to topple a 2 bit dictator and they want us to shut up and pay for it.
This money didn't exactly evaporate – many in this administration and their cronies have lined their pockets with this money through this privately contracted war. This war hasn't benefited the economy like past wars because so many of these contractors are set up off shore so no payroll taxes, etc. Same with our military contracts – didn't the Air Force just choose the EU Airbus over the US company Boeing for a new contract?
Some people invest to make billions, some start businesses, Bush & Cheney started a war!
The mortagage debale is a pimple compared to the war!
J from Ohio
Absolutely!!! 600 billion dollars so far?? For security? Give me a break! The war was started because of bunch of lies and the sickness, dementia, of our wonderful leadership. We all stood aside, listened to the lies, and did nothing. Now we are footing the bill. What a joke!
I'm extremely disappoint with the Bush administration and am utterly stupified at how with so many blunders during his first term he could get re-elected. We only have ourselves to blame for electing an imbecile and not changing our ways.
Yes, I think the Iraq war has hurt the economy but there are a lot of other issues too.
Iraq has not only put is in a unspoken depression. we owe money to china and are still paying money to an economy whos refusing to fight there own battles. while our unemplyment is at a record high, gas prices, and food getting to be unafordable to live an american dream. Jack, I really believe we need out of this commitment Bush got us in to.
I fervently believe that the Iraq war has very little to do with the current state of our economy. The current economy is more a result of misdirected ideologies of the current executive branch and uncontrolled financial practices than the Iraq war. About 7 years ago, Pres. Bush placed pressure on the banking industry to increase U.S. home ownership. This resulted in the banking sector reducing its credit/loan requirements in order meet the Bush administration's expectations. Concomitantly, the Fed began to restrain interest rate increases and allow new resulting loan/hedge instruments to be sold in the investment markets without regulation. Savvy investors/brokers/speculators realized what was happening and got in on the act. Essentially, a large, legal Ponzi scheme was created under this premise of increasing home ownership. The result is the economy that we are experiencing today.
We haven't even begun to feel the debt that has been and is being incurred on the Iraq conflict. That economic effect will be a horrible hangover that will be with the U.S economy for the next 10 to 15 years, essentially keeping our economy from growing, stagnating (and possibly deflating) domestic wages, and generally putting the American standard of living on a slow, gradual decline.
Steve E.
Chicago, IL
We are in debt because we spend more than we make. If we spent 1-3 trillion on Iraq or public policy, it makes no difference, because it is not real. China's cash surplus, now that is real.
Shafi Alam
Austin, Texas
Jack, Instead of wasting money in the unending war now in the sixth year in collaboration with a “corrupt” Iraqi government , if the taxpayers’ more than 500 billion dollars were spent for green economy and building infrastructure of schools, highways etc, all people could have jobs and economy could be much better. If the war is not stopped, it may cost another “$1 to $3 billion. The U.S. government may have to borrow this money. The coming governments will have the burden to take care of all these loans. The economy will slide down further.
Jack,
I blame the American people not the war, after all we are the ones who keep reelecting the idiots we have in Washington. We elect these people to run the country and all they do is run for reelection, and we put them back. It is time to fire them all and put in some businessmen, Donald Trump for President!!!!!
barack obama called it "911 fever". the fact is irrational fear won out over sound reasoning. this country got duped by a former cocaine addict because it felt like it had nowhere else to turn. shame on george bush and shame on us for believing the unsubstantiated drivel that got us into this economic and military black hole in the first place
NAFTA signed by the Clintons, got this ball rolling of recession, and the Iraq war followed by George W's tender ministrations kept it rolling. You can trace our hard times back to the Clintons, only now they are trying to hide the fact that they "set fire to the whitehouse."
The short and simple truth is YES! But no need to fear the cheaper gas prices we were promised must be just around the corner.
Jack, after reading the many comments above. It's nice to know I'm not alone in blaming the Bush administration and corrupt politicians for the failing economy. I wonder were all the Bush supporters are. They've probably counting all of those corrupt dollars they earned.
To the person who blames the American voters, I never once voted for the Bush administration. We should blame the swiftboaters. Now they have the swift children.
Here's an idea of how to raise money. Go after people "knowingly" making false statements on television. Isn't there already some type of false advertising law on the books. I guess it doesn't apply when you're slandering a standup veteran like John Kerry.
Jack,
I've had enough economics courses to know that the economy moves in cycles, growth, followed by recession, followed again by growth. Iraq may cause the cycle to happen sooner, or be a bit deeper; but it didn't cause the recession. You haven't heard the chairman of the Federal Reserve say we need to end the war have you? If we stopped the war today, the effect on the economy would be like trying to change the course of a supertanker with a paddle.
The Iraq War has mortgaged our future to the Chinese, made companies like Haliburton billions in ill-gotten gains, and destroyed our prestige in the world. What a waste of blood and treasure!
We should present the bills to Iraqis ... as they get rich on the $110/barrel oil.
If everyone doesn't answer yes to this question then talk about out of touch!! Can you imagine what this country can do with just half of the amount of money we are using for Iraq!! Our education, infrastructure, jobs, etc., would not be in such turmoil. We have to fix our country before we can begin to know what's good for other countries!!
i imagine there are quite a few of us out there who have never seen one trillion in numeric form, could you show those of use interested what it looks like?
thank you
tim eastman
– "Iraq war to blame for weak economy?"
– Do Pigs Fly?
Jack,
It doesn't take much brainstorming to come to the conclusion that we will be spending near $3 trillion dollars on this war when that money should have used to assist our own economy. We're in our own war here.........foreclosures, loss of jobs, high fuel costs, unaffordable health care...the list goes on. You can't walk through a mud puddle without getting your feet dirty!!!!
Marion Johnson
Kersey, PA
All of the great empires throughout history have fallen when they overextended themselves in their greed for power and control of other nations resources. Bush and Cheney have now put us on that slippery slope to irrelevancy in the world community. Not only have we lost respect and cooperation from other nations but now they have pushed us over the edge with their fiscal irresponsibility regarding the waging of this insane war. They should be tarred and feathered and ran out of town.
The war only makes up 25% of our economic problem – 75% is rooted in the greedy, self-absorbed mentality of both politicians and people who want the fancy cars, houses and trappings that lead to modern slavery known as indebtedness to banks and foreign interests.
There is no doubt that the Iraq war is connected with our failing economy.
And it is incredible that until now we as a nation are opening our eyes to this appealing reality.
If the Iraq war is not the only cause of the present US economic problem, it is certainly the largest influence and also, if not brought to a halt rapidly as far as US funding of the war is concerned, will be the main reason that we can not recover from this deepening recession.
The cost of the war is almost totaly to blame for the economic mess we find ourselves in. I'm more concern with the politicians who have been "bought" and made millions because of the war. This is nothing short of treason. I only wish I could find out who these people are and have them removed from office.
Sincerely,
Edward Hade
Do I think that the Iraq War is affecting the US economy? Yes! Am I bitter about it? Dam right I am! Of course if you listen to the news they say Americans are not bitter, I just don’t understand.
I think that the war is destroying our economy. We cannot affort this war. We need to rebuild our country's inforstructure.
yes i think the war is a big waste of tax payers money.what i don't understand is why so many people are scared of a woman leader.sen.clinton by far is the better candidate.do you really think america is really ready for a black president
Jack,
What excuse did Congress use prior to the Iraq war for not funding any of the worthy social programs you delighted in itemizing to arouse our ire other than into their own pet pork projects?
Get real, old boy! They haven't now nor will they after this war.
Of course it is!! And we just might have someone who can help get us out of this mess, but you guys in the media just keep reporting on the bull- like who said the word bitter and what it means instead of covering what really matters. Hillary Clinton is just trying to mess with Barack Obama because she wants McCain to beat him so she can run in 2012. And the media is helping her to do it. Give me a break – who cares about the word bitter. Talk about trying to make a mountain out of a mole hill just to keep yourselves busy and keep people watching your show. Well, today, I for one am done with CNN. Boy am i disappointed.
There is no doubt in my mind that the war in Iraq is a rouse for a Bush/Cheney retirement fund. Over and over and over again and again and again, we Americans hear how much this war is costing our country. Is the REAL Bush/Cheney/McCain plan to eventually make Iraq a mini-United States or at least one of our territories. Is this the true reason why we have spent more time in Iraq than in Afghanistan where the "true" terrorists against the United States seem to reside. Between Bush receiving economic support from Enron executives who embezzled their employees money, so too has this current administration embezzled from the economy of our country!
No doubt the Iraq war is eating up our tax dollars. If anyone thinks otherwise, they are not listening to what is happening out there and everywhere. And, as this war continues, a bigger hole in Iraq is being dug into which more tax money will be thrown. Give us back an economy where we can fix things that are going down an even bigger hole here in our own country.
The Iraq War is 100% responsible for our economic problems, and likely would be 100% responsible for infrastructure problems, appropriate enegy alternatives (not corn based ethanol) and many other issues (if we had a congress and administration that had effective spending programs.) The expenditure of $1T or more on theives, malingerers, murderers, America haters, con men and I assume con women, etc., and an overall bunch of bumbling idiots in Iraq where power and money rather than a caring, humane government rules is an abomination that should long ago have resulted in impeachment of Bush and Cheney as well as McCain. Anyone voting for McCain is equally a fool and bumbling idiot.
This war is a very inexpensive, in terms of inflation adjusted dollars, when compared to WWII. Conventional war as we know it is a thing of the past and finding an immediate benefit from our activities is difficult to measure. Had we avoided the thing all together and retreated to an isolationist position would we be safer in the long term? Perhaps we'd be driving detours around radioactive terrorist waste sites in Chicago or NY... no one can really tell. It's very easy to be critical of this war today but very difficult to take a more optomistic long term position. Good things don't always come easily or quickly.
Sometimes I think all of this negativity is more about Bush's poor vocabulary and oratory than about the issues. Boy do you guys hate our pres... pretty sad.
I think that the war in Iraq is by far the biggest hinderance to the average American family's economic success. It is amazing to me that we have been pounded over the head for the last 4 days in reference to Senator Obama's "bitter" comment, am I the only one who sees the forest and not the trees. Clinton and McCain love the way that the media is continuing to feed the frenzy because it gives them some breathing room. Due to the fact that Senators Clinton and McCain were for the war and thanks to them trillions of dollars and thousands of lives have been lost, they as well as the others who voted for the war have many questions to answer. I honestly don't think that they know the meaning of elitism or bitterness. I can tell you as I am a veteran and the wife of an enlisted soldier that I am bitter and so are millions of other Americans. The real question is does McCain or Clinton truly have a clue? My guess. No!
Of course not Jack, how dare you imply that the war is ruining our economy?? Just because we're spending trillions of dollars we don't have financing a government and country that seem not only in a state of turmoil that can't be remedied through force or conventional reasons doesn't mean we could be using that money for better gains on our own soil.
Yes, I blame the war for the week economy! All of a sudden working class citizens cannot afford their mortgages, they can’t afford to send their children to college, or even make simple investments anymore.
Absolutely! Americans are being send to the cleaners by this war. I was always taught that you take care of your own first. You don't go out and buy a Rolls Royce when your house is falling down. You must have a stable strong country before you go forth and concur the world. if we set an example then maybe people would want to be like us.
Ide say it has the shoulders to take all the blame.Considering the onesided topics like why Iraq isnt paying for this war and why over 4000+ of our brave troops are dead and trust me jack if I pull out my recent history book I could go on and on forever.
Jack,
To those who'd still insist that the war, and it's price tag, is necessary to protect the U.S. should realize that the current fiasco in Iraq has not only caused our economy to tank but makes it impossible to afford REAL protections at the borders, ports, railstations and airfields.
Meanwhile, a weak economy is a weakened nation. How safe is that?
Yes, and the worst part is that not the american people or the iraqi people profit from it! where is the money going?
And Jack, you mentioned several examples of better purpose for the money, but we cant keep loaning from asia, can we?
Jasper
Hey Jack if you want to blame Iraq ft the weak economy and say we could be doing other things with the money fine but atleast be fair how about the poor in America who can't afford medicine or food while we send hundreds of billions to Africa and other nations is that helping our economy, Or How about reading this on the Air jack and asking if Americans would rather be giving Billions to Israel and Saudi Arabia and South Korea and Japan and even Germany who aremuch richer than IRAQ because I am sick of everyone using a current waste of money like Iraq and not pointing out as Eisenhower did about all the money wasted on the Military complex so Jack do you think all the hundreds of billions wasted on other nations wouldn't be better suited to help American schhols and Bridges that are failing but you probably won't read this because of course don't offend any of these other countries just make us good Iraqi's who never asked you to invade sound like free loaders when you white europeans never call Germany whos been getting Billions for over 50 years freeloaders! I guess you will never be fair to us Iraqi's who love America and love Iraq and you won't read this but do you feel more obligated to stay and pay for Germany, Japan, Taiwan, and Israel than you do to help my loved ones who are dying every day helping American troops in Iraq and my loved ones who will be slaughtered when you leave because you can't afford us Iraqi's anymore listen to how this question even sounds?