A Lesson in Econ 101 for Sen. John McCain

http://www.ourfuture.org/makingsense

George Bush, John McCain, and their conservative allies believe that the Iraq war has been worth the cost. About two-thirds of Americans disagree, according to a recent poll. Apparently, conservatives don't understand "opportunity cost"—the basic economic concept that when you choose to buy one thing, you can't use that money to buy something else.

The cost of Iraq in lives lost and scarred is incalculable. It has also had staggering economic costs here at home.

* So far, the federal government has authorized $656 billion for the Iraq war. Of that total, $152 billion was appropriated to fund the Iraq war during the current fiscal year. That amounts to more than $12 billion per month and $416 million per day.

* With $656 billion we could have: Brought to "good condition" all of America's deteriorating public structures—bridges and roads, airports and railroads, schools and parks, water and sewer systems; or paid for a college education for every high school graduate over the next decade; or eliminated hunger worldwide.

* With $152 billion we could have: Provided high-quality health insurance coverage for the 47 million men, women, and children who are uninsured; or paid the cost of Social Security benefits for three years; or invested 300 times more money than is currently allocated to research and develop renewable energy technology.

* With $12 billion we could have: Covered the 4 million children who were denied health insurance coverage when President Bush vetoed SCHIP funding; or tripled the budget for cancer research at the National Cancer Institute; or carried out all 9/11 Commission recommendations.

For sources and more, see http://www.ourfuture.org/makingsense

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• Senator
• John McCain
• Iraq War
• Campaign for Americas Future
• health care
• insurance
• war
• spending
• economics 101
• college affordability

[NLPNVC]

Well done...

[Slimdawgc]

Hmm... opportunity cost isn't the cost of *everything* foregone. It's the *second best* alternative. Otherwise, the opportunity cost of every action is potentially infinite.

However, the Iraq war is a piece of shit.

[cjodigo]

instead, Obama is now sendng in more troops and passing a $787 BILLION stimulus....guess what, none of that money is gonna help middle America so stop complaining how much Bush spent on the war when Obama has spent more than that in his 2nd month in office!!!

[Absconditum]

Money that is spent on the war is routed to the defense sector. Chemical firms such as Du Pont and other US-based defense contractors take on a good amount of money, and ultimately contribute to the well-being the economy.

Research for alternative sources of energy is a noble endeavor, but consider the fact that research money is a much longer-term investment than most care about. People want short-term results, not promises of hyper-efficient mobile nuclear furnaces in 20 years.

[thelordismyshepherd]

ha ha aha ha ha ah ahah ah ha ha good luck getting a college education when your dead.not to mention if the government still had that money it should not be spent on that it should be given back to the people that put the labor into getting it. wow its relly that simple for you libs just take money from people that earned it and give it to the poor.

[Sepero1]

I'm surprised anyone even cares about the U.S. any more.

BTW, it's U.S., not America.

[wolfhybred]

I think you might have to simplify it just a little bit more. Obama needs this class too. Ron Paul could educate them more if they can manage to pass this one. LOL Great Job!

[Dr0pDuckC0ver]

But seriously, with earnest pleas for ears, When Sen. Obama says he will repeal the Bush tax cuts and will not raise taxes except for the rich, he is talking out of both sides of his mouth, as Bush's tax cuts with our rebate checks in 2001 were for everybody, rich and poor. So, basically Obama is pledged to raise taxes on everyone.

[Dr0pDuckC0ver]

I rather like taxing the American middle class to produce prosperity.

Socialized medicine will also benefit the stagnant economy and stimulate growth.

[paralentor]

So hard to believe the faux news ditto heads are still hating the reality they created. After 8 years of being in control they should be reaping what they have sown. $4 gas, unemployment, etc. But at least they can mow the lawn of some rich haliburton exec. Oops, they live in Dubai now.