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Little-known fact: Failed stimulus program cost more than the Iraq war

Follow the link here:  Little-known fact: Obama's failed stimulus program cost more than the Iraq war Washington Examiner

By: Examiner Staff Writer 08/23/10 2:00 AM

Expect to hear a lot about how much the Iraq war cost in the days ahead from Democrats worried about voter wrath against their unprecedented spending excesses.

The meme is simple: The economy is in a shambles because of Bush's economic policies and his war in Iraq. As American Thinker's Randall Hoven points out, that's the message being peddled by lefties as diverse as former Clinton political strategist James Carville, economist Joseph Stiglitz, and The Nation's Washington editor, Christopher Hayes.

The key point in the mantra is an alleged $3 trillion cost for the war. Well, it was expensive to be sure, in both blood and treasure, but, as Hoven notes, the CBO puts the total cost at $709 billion. To put that figure in the proper context of overall spending since the war began in 2003, Hoven provides this handy CBO chart showing the portion of the annual deficit attributable to the conflict:

Do you see alarming deficits or trends from 2003 through 2007 in the above chart? No. In fact, the trend through 2007 is shrinking deficits. What you see is a significant upward tick in 2008, and then an explosion in 2009. Now, what might have happened between 2007 and 2008, and then 2009?  Democrats taking over both houses of Congress, and then the presidency, was what happened.

But there is much more to be said of this data and Hoven does an admirable job of summarizing the highlights of such an analysis:

* Obama's stimulus, passed in his first month in office, will cost more than the entire Iraq War -- more than $100 billion (15%) more.

* Just the first two years of Obama's stimulus cost more than the entire cost of the Iraq War under President Bush, or six years of that war.

* Iraq War spending accounted for just 3.2% of all federal spending while it lasted.

* Iraq War spending was not even one quarter of what we spent on Medicare in the same time frame.

* Iraq War spending was not even 15% of the total deficit spending in that time frame. The cumulative deficit, 2003-2010, would have been four-point-something trillion dollars with or without the Iraq War.

* The Iraq War accounts for less than 8% of the federal debt held by the public at the end of 2010 ($9.031 trillion).

* During Bush's Iraq years, 2003-2008, the federal government spent more on education that it did on the Iraq War. (State and local governments spent about ten times more.)

Just some handy facts to recall during coming weeks as Obama and congressional Democratic get more desperate to put the blame for their spending policies on Bush and the war in Iraq. For more from Hoven, go here.

There Is No Place Like Home for the Holidays (or Nerf Wars)

 

And this is only a part of the total arsenal!

This is what goes on at night in my house when we have company.  And when I say night, I mean from the time I go to bed until the alarm.  Some people get depressed when the holidays end and they have to go back to work.  I'm ecstatic!  I can finally get some rest.

Too Much Holiday Spirits - Drunken Santa in Erie PA

Deja Vu - Another Weiner Moment

We've seen this before. (click on the link to see how this is Congressman Weiner's habit to avoid the question).

It's funny with O'Reilly, but I'd be too afraid that Megyn would slap the crap out of me to try this with her. But she keeps her cool.

Perspective is Everything

Look at the picture above and you can see where this driver broke through the guardrail, on the right side of the culvert, where the people are standing on the road, pointing.

The pick-up was traveling about 75 mph from right to left when it crashed through the guardrail.

It flipped end-over-end bounced off and across the culvert outlet, and landed right side up on the left side of the culvert, facing the opposite direction from which the driver was traveling.

The 22-year-old driver and his 18-year-old passenger were unhurt except for minor cuts and bruises.

Just outside Flagstaff , AZ , on U.S. Hwy 100.

Click here to see the rest of the story.

Erie ranked among Brainiest Bastions -- sort of

By VALERIE MYERS

valerie.myers@timesnews.com

Erie has made the list of the 200 "Brainiest Bastions" in the country.

The bad news is that the city made the bottom half of the list -- for "negative brainpower."

That assessment by online business journal Portfolio.com is based on educational attainment. Most Erie area residents are not college-educated, according to U.S. Census data used in the study.

Erie is ranked at 143 on the "Brainiest" list. Cities ranked at 99 through 200 had negative scores for a minority of college-educated residents.

Erie County Executive Barry Grossman called the new rankings "not surprising" and said that they underline previous studies with similar findings and underscore the need for a community college.

"Harrisburg and Pittsburgh, both with very active, very successful community colleges, are ahead of us in this ranking," Grossman said. "Here, we commission these kind of reports, pay money for them, and they all say we need a community college. Then we ignore them, as if, what do they know. And we're behind."

Pittsburgh, Harrisburg and Philadelphia are ranked among the nation's "Brainiest" cities by Portfolio.com. College graduates outnumber high school-only graduates and high school dropouts in all three cities, according to census data.

In the Erie area, 8.61 percent of residents have a graduate or professional degree; 15.35 percent have bachelor's degrees; and 23.83 percent have associate degrees or some college education, according to census data.

More area residents, a combined 52.21 percent, have not earned a high school diploma or did not continue their education beyond high school.

That's bad news economically as well as educationally, said Jim Kurre, associate professor of economics at Penn State Behrend and director of the Economic Research Institute of Erie.