Politics

The Economy & The War In Iraq

By Office of the Speaker

According to Ernest P. Goss, an economics professor at Creighton University:

?The [money we are spending yearly in Iraq] is roughly the size of the incentive stimulus package being moved through Congress right now. So it is hard to argue that it is insignificant if it is the size of our stimulus package?the investment in cancer research, certainly federal programs like health and education would rise to the tops in terms of spending [if the money was not being spent in Iraq.]? [1/30/08]

A recent AP/IPSOS poll asked Americans how the government could help fix problems with the U.S. economy ? 68 percent said pulling our troops out of Iraq would help a great deal or some.

UPDATED: Cost of War in Iraq Broken Down

Second: $3,919

Year: $123.6 billion

[Congressional Research Service, 2/8/08]

RECENT ECONOMIC INDICATORS:

· ?The confidence of American consumers reached a 14-year low with fewer than half having a positive rating of their personal finances for the first time since 1993, a report showed on Tuesday.? [Reuters, 2/12/08]

· ?At least 1.3 million mortgages were either seriously delinquent or in foreclosure at the end of the third quarter, according to the Mortgage Banking Industry.? [Wall Street Journal, 2/12/08]

· ?Optimism among small-business owners fell last month to a 17-year low as companies said they expect business conditions to worsen in the next six months.? [Bloomberg, 2/12/08]

Full post as published by The Gavel on February 13, 2008 (boomark / email).