With all due respect, no I am not.<quoted text>
With all due respect, Are you out of your mind?
Bush/Cheney were the first in American history to go to war without raising taxes especially on the wealthy.
Iraq, Afghanistan Wars Will Cost U.S. 4-6 Trillion Dollars: Report
WASHINGTON, Mar 30 2013 / http://tinyurl.com/btmpjqj
(IPS)- Costs to U.S. taxpayers of the wars in Iraq and Afghanistan will run between four and six trillion dollars, making them the most expensive conflicts in U.S. history, according to a new report by a prominent Harvard University researcher.
While Washington has already spent close to two trillion dollars in direct costs related to its military campaigns in the two countries, that total “represents only a fraction of the total war costs”, according to the report by former Bill Clinton administration official Linda Bilmes.
“The single largest accrued liability of the wars in Iraq and Afghanistan is the cost of providing medical care and disability benefits to war veterans,” she wrote in the 21-page report,‘The Financial Legacy of Iraq and Afghanistan: How Wartime Spending Decisions Will Constrain Future National Security Budgets’.
The Economic Consequences of Mr. Bush
The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup./ by Joseph E. Stiglitz
December 2007 / http://tinyurl.com/22j48m
When we look back someday at the catastrophe that was the Bush administration, we will think of many things: the tragedy of the Iraq war, the shame of Guantánamo and Abu Ghraib, the erosion of civil liberties. The damage done to the American economy does not make front-page headlines every day, but the repercussions will be felt beyond the lifetime of anyone reading this page.
World War II was easily the costliest war in American history, gobbling up 45 percent of America's gross national product. In addition to levying income taxes on everyone earning more than $600 a year, the government raised the rest of the money through war bonds and deficit financing. The federal debt ballooned from 52 percent of Gross Domestic Product in 1940 to 120 percent by the end of the war, the highest in history.
In relative terms, the Iraq war has been fairly cheap by historical standards, costing about $120 billion a year or around one per cent of GDP, compared to 45 percent of GDP for World War II. In absolute terms, however, the Iraq war is the "second most expensive war" in American history after World War II. According to Hormats, it has been financed largely through the issuing of treasury bonds, 40 to 45 percent of which have been bought by foreigners.