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Since we all love the CBO so much...

Discussion in 'Political Discussion' started by khayos, Aug 23, 2010.

  1. khayos

    khayos In the Starting Line-Up

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  2. DropKickFlutie

    DropKickFlutie Rotational Player and Threatening Starter's Job

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    I was never a fan of the original bailouts, and I am disappointed Obama hasn't brought the troops home yet, BUT...

    According to this graph, the Iraq War was a massive % of federal deficits from 2003 to 2008. As a side note, accounting tricks were used to mask its true cost from 2003-2008.

    Then, in 2008, the entire economy imploded due to the unregulated multi-trillion-dollar derivative and hedge fund markets. All of this happened under the previous administration, as well as several bailouts for elite institutions at the expense of American taxpayers.

    The stimulus was a mistake, but no more of a mistake than all the other bailouts programs, or the bills that brought the US government into the real estate, banking, and auto businesses. The amount of toxic assets that are yet to be realized but on the hook for the US government, far surpass any of the figures the CBO is looking at here...

    The US government basically sat on a ticking time bomb, and it doesn't really matter who is President now anymore.
     
  3. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Your title is a tad disengenuous, as not sure anyone loves the CBO except those who want to make a point..

    This is a tad idiotic, sounds as though there is an effort to justify the Iraq war, because it cost less..

    How about if there was no Iraq war, there may not have been a need for stimulus package????..

    There are also those who will argue, that the Stimulus Package avoided a depression, and there will be those who argue that it led the country to financial ruin..

    But no one can argue that going to Iraq was based on lies. What is the cost of 4K soldiers killed, 30K+ soldiers injured, completely destroying a country, destablizing the mid east and killing over 100K+ Iraqi women and children???...

    At one point in my lifetime, there used to be an argument that a war would be good for the economy, but as time goes on this seems less valid.

    FYI the Washington Examiner is an agenda driven rag...
     
    Last edited: Aug 24, 2010

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