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A causal relationship between Iraq spending and the US economy

A causal relationship between Iraq spending and the US economy. 1. An WWII argument 2. “Over the last 40 years, America has spent an average of 5.7% of gross GDP annually on defense, but Iraq War costs have ranged from .05 % of GDP in 2003 to 1.3% in 2008” (p.383)

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A causal relationship between Iraq spending and the US economy

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  1. A causal relationship between Iraq spending and the US economy 1. An WWII argument 2. “Over the last 40 years, America has spent an average of 5.7% of gross GDP annually on defense, but Iraq War costs have ranged from .05 % of GDP in 2003 to 1.3% in 2008” (p.383) 3. Recession because of overbuilding of homes and disruption of credit market; oil profits in the long run. 4. Stiglitz and Bilmes: Iraq War investment was to suppress demand in the US b/s goods and services are not bought here; also the cost of Iraq War. 5. Subprime house loan/mortgage (p.371) 6. Historically (from the War of 1812 onward), war spending did force the central government to go into debt into domestic credictors.

  2. Iraq Conflict: TheHistorical Background • 1979: • Shan Mohammad Reza Pahlavi and his regime were replaced by Shiite Muslim and the anti-American leader Ayatollah Khomeini. • Iran hostage crisis • 1980~1988 • Iran-Iraq War • Regan administration leaned toward Iraq • 1990 • US policy shifted in 1990, when Saddam ordered invades Kuwait, declaring the oil-producing nation a province of Iraq • Saudi Arabia was about to be the next target for Iraq • 1991 • President George H. W. Bush assembled a military coalition that drove Iraq out of Kuwait after 100 hours of ground fighting • 1991~2001 • US force protected Kurdish enclave in the northern mountains • US war planes patrolled over both northern and southern Iraq and prohibiting Saddam from bombing Kurds and Shiites • 2001 • Sept. 11 terrorist attacks in NY • March 19, 2003 • The outbreak of the second Gulf War • April 9, 2003 • U.S. troops had started taking over Baghdad

  3. Pace of Iraq Pullout • Part 3 • 13:38~14.42 general perspective • 16:40~18:50 pullout • http://www.cnn.com/2008/POLITICS/09/27/debate.poll/index.html#cnnSTCVideo

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