George W. Bush, despite all his recent bravado about being an apostle of small government and budget-slashing, is the biggest spending president since Lyndon B. Johnson. In fact, he’s arguably an even bigger spender than LBJ.
“He’s a big government guy,” said Stephen Slivinski, the director of budget studies at Cato Institute, a libertarian research group.
The numbers are clear, credible and conclusive, added David Keating, the executive director of the Club for Growth, a budget-watchdog group.
“He’s a big spender,” Keating said. “No question about it.”
Take almost any yardstick and Bush generally exceeds the spending of his predecessors. [complete article]
The wars in Iraq and Afghanistan could cost as much as $2.4 trillion through the next decade, the nonpartisan Congressional Budget Office said Wednesday. The White House brushed off the analysis as “speculation.”
The estimate was the most comprehensive and far-reaching one to date. It factored in costs previously not counted and assumed that large number of forces would remain in the regions.
According to analysis, the U.S. has spent about $604 billion on the wars, including $39 billion in diplomatic operations and foreign aid.
If the U.S. were to reduce the number of troops deployed to Iraq and Afghanistan to 75,000 six years from now, it would cost the U.S. $1 trillion more for military and diplomatic operations and $705 billion in interest payments to pay for the wars through 2017. [complete article]