Iraq Costs Require Some Perspective

USA Today ^ | 9/21/03 | Larry Lindsey

[Political Numbers Guy]

A year ago, while I was serving as President Bush's White House economic adviser, I caused quite a controversy when I said that our objective in Iraq would be well worth spending 1% to 2% of America's gross domestic product. At the time, the president had not made any decisions about war with Iraq, so putting any price tag on the mission

[Political Numbers Guy]

This is a great one for your blogs:

http://www.usatoday.com/news/opinion/editorials/2003-09-21-lindsey_x.htm

The cost to defeat Saddam was less than half a percent of America's annual income (measured as gross domestic product). If spending continues at the current pace, our involvement could cost us 0.4% of our income for the rest of this year. If President Bush's request for $87 billion for Iraq and Afghanistan is approved, the cost of these two fronts will amount to about 0.8% of our income next year.

But what does that really mean? Each year American households spend about 1% of their income on alcoholic beverages and another 1% on tobacco products. We spend about 0.7% of our money on cosmetic products. In other words, our combined operations to combat terror in the Middle East cost a bit more than we spend on makeup and shampoo and a bit less than we spend on booze or tobacco.

[VOA]

I'd rather not spend the money.
But, if events continue to reveal the United Nations to be the self-interested
Club of Weasels, it'll be worth it.

[Cronos]

At last, a sane voice and relevant facts. Good article

[MeekOneGOP]

[Coop]

Other than the Wash Times, NY Post and Wall St. Journal, the USA Today is about the only major publication where I can expect to see such a well balanced article. Kudos to them for publishing it.

[conservatism_IS_compassion]

The cost to defeat Saddam was less than half a percent of America's annual income (measured as gross domestic product). If spending continues at the current pace, our involvement could cost us 0.4% of our income for the rest of this year. If President Bush's request for $87 billion for Iraq and Afghanistan is approved, the cost of these two fronts will amount to about 0.8% of our income next year.

But what does that really mean? Each year American households spend about 1% of their income on alcoholic beverages and another 1% on tobacco products. We spend about 0.7% of our money on cosmetic products.

[Ragtime Cowgirl]

Thank you, c.c.!

Ping for perspective.

Without America, the French would be speaking German and the Germans would be speaking Russian. Europeans never have repaid us for our efforts on their behalf during the 20th century. But it was still in America's own interest to be involved in those conflicts. The same is true of deposing Saddam and building a more democratic Iraq. It's worth it, whether or not countries like France contribute.

Bill France.

 Thanks, Tonkin!

If you want on or off my Pro-Coalition ping list, please Freepmail me. Warning: it is a high volume ping list on good days. (Most days are good days).

[Alamo-Girl]

Bump!

[blue_nova]

I'd like to see W. raise the cash by allowing a special one time 'pay 10% tax and convert your IRA from pretax to post tax'. When they throw around deficits they don't offset it by mentioning the trillions of created but as of yet untaxed revenues.

[Alamo-Girl]

Thank you so much for the suggestion, but I'm not sure I understand the specifics. Have you made the suggestion to your Senators and Representatives, etc.?

[HeadOn]

I was thinking this morning...for all those pro-UN people out there who think we should pay our bills to the UN, why don't we just take the $87 Billion out of what we owe them?

I don't know how much we "owe" them, but if it's less than $87 billion, they could "owe" us for a change.

That way, we owe the UN less, and we get the job done... Who could be against that?

[Alamo-Girl]

LOL! I like that idea a lot! How about submitting an editorial to your local newspaper!!!

[HeadOn]

I'm thinking about it, but they will only publish one every 30 days, so I pick my battles...

[GOPJ]

Great comment:

Without America, the French would be speaking German and the Germans would be speaking Russian. Europeans never have repaid us for our efforts on their behalf during the 20th century. But it was still in America's own interest to be involved in those conflicts. The same is true of deposing Saddam and building a more democratic Iraq. It's worth it, whether or not countries like France contribute. Bill France.

[Alamo-Girl]

Well, best wishes to you if you decide to submit one later!

[GOPJ]

bump

[PhilDragoo]

The cost of 911 was a trillion, a thousand billion.

87/1000's of that is the amount currently blocked by Ted DWI Killer Kennedy and Robert KKK Byrd.

An amount equalled or surpassed by waste, fraud, and abuse of Medicare/HUD in any fiscal year.

We cannot afford. . .Democrats crippling national security.

[windchime]

Bump!

[185JHP]

Thanks.