Thursday, February 04, 2010

Test Bubble- At least war spending has decreased

Perhaps you noticed the President’s proposed budget this week- if approved by Congress, for every Dollar spent by the Fed in 2010-11, 40 cents of will be borrowed:

But shouldn’t our reduced presence in Iraq save money . . . ?

07 and 08 TOTAL war spending under Bush (Iraq and Afghanistan): $ 171 B and $ 185 B respectively.

10 and 11 Total war spending: $130 so far (likely to end up at around $ 163 B with $33 B interim gap-filler proposed) and $159.3 B in the fiscal ’11 budget.

I don’t think a 9.47 % reduction in war spending constitutes the “change” that the People expected.