The Costs Of The War In Iraq On The American Economy

April 16, 2008 -- Senate Majority Leader Harry Reid and House Majority Leader Steny Hoyer joined Senator Charles Schumer and Congresswoman Carolyn Maloney of the Joint Economic Committee today to discuss the impact of the Iraq war on the U.S. economy. As the war in Iraq moves into its sixth year, there is still no clear end in sight. Meanwhile, the U.S. economy continues to suffer the effects of record oil prices, job losses, inflation, and a deepening housing and credit crisis.

It is long past time for the Bush Administration to explain why the $12 billion it spends on a failed war policy every month is more important than the health care, education, housing relief, and infrastructure those resources can provide here at home. "President Bush's mismanagement of the Iraq war and his stubborn refusal to change course have exacted tremendous costs on America," Reid said. He added, "The American people deserve a full accounting of what the war has cost in terms of lives, our reputation abroad, our national security abroad and at home, and our economy; and they especially deserve to know the future costs of the Administration's Iraq strategy going forward." Read more on the economic opportunity costs of the War in Iraq.

« Back to Multimedia.

Macromedia Flash Player required.