PolitiFact | The Iraq war, for $100 monthFirst Faved : Sep 24 2008 by mohitFaved : 1 time with noteViewed : 3 timesFave It!
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The Iraq war costs about $12 billion a month. For perspective, the bailout is estimated at $700 billion.
She said they took the Bush administration’s 2008 request for war funding – $196-billion – and divided it by 12 to get a monthly cost. That works out to $16-billlion for both wars and about $12-billion just for the Iraq portion.
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Keep in mind money spent on Iraq is gone. Money spent on the proposed bailout could possibly be reclaimed - the goverment will be getting securities in exchange that can be sold at a later date.
The costs of the Iraq war so far have contributed to the sad state of the economy. How much of that $700 billion can be traced back to the war?
What do you mean? Do you mean we're in this $700 billion dollar mess partially because of the war? So, in effect, the cost of the war is much greater?
@akabagel Yah, I'm more supportive of the bailout if there is a means for the government to recover the $700 billion -- whether that be via a loan, an equity position, or something else.
@akabagel: Yes, the almost-a-trillion drag on our economy for Iraq certainly hasn't helped. And even that doesn't take second-order effects into account. Businesses that have been hurt by workers that have left to be in Iraq, some of whom they're still paying. Families whose primary wage-earner is in Iraq and they're now on welfare as a result. And, of course, families who have lost loved ones. As George Bush said, "It turns out that there's a lot of interlinks throughout the financial system".
@mohit: The money is supposed to be loans and purchases, so it's possible we could get the money back. It happened in the Great Depression.