September 09, 2003

A billion here, a billion there...

Democrats Say Iraq Spending With Tax Cuts Is Unaffordable (washingtonpost.com): "To put it in perspective, Bush hopes to spend more in Iraq and Afghanistan than all 50 states say they need -- $78 billion -- to finance the budget shortfalls they anticipate for 2004.

The request is higher than the $74 billion the Defense Department plans to spend on all new weapons purchases next year, and higher than the $29.5 billion the Education Department hopes to spend on elementary and secondary education plus the $41.3 billion the administration plans to spend to defend the homeland.

With $166 billion spent or requested, Bush's war spending in 2003 and 2004 already exceeds the inflation-adjusted costs of the Revolutionary War, the War of 1812, the Mexican War, the Civil War, the Spanish American War and the Persian Gulf War combined, according to a study by Yale University economist William D. Nordhaus. The Iraq war approaches the $191 billion inflation-adjusted cost of World War I."

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