A friend of mine sent an email to me that he had sent to his republican friends. I got his permission to share it with Kossacks.
With a possible war with Iran ramping up, this is a look at the cost of the Iraq war and the economic impact on our future.
Email from my friend to his republican friends:
Check this link out:
thinkprogress
If you want more war and more federal spending make sure you vote Republican this fall. More war means more US Debt. Tired of the very expensive Bush-Cheney War Years? Then send Republicans a message this fall by voting for a Democrat and save the Republican Party. If you could never vote for a Democrat, but you agree that we are being led by corrupt and immoral politicians, then just stay home on election day.
Need some convincing about how expensive Bush's wars are? Here's some:
· Bush's debt to America so far is1 trillion dollars, the most by any President to date and no Democrats to blame this time. (It will be at least 50% more by the time his term ends and does not include the deficit occurring from robbing of the SS trust fund)
· Bush created Homeland Security which was the largest government agency created since the Dept of Defense was created and no money to pay for it. $42 billion this year. (Sounds like a fiscal conservative, right?) Are we really safer?
Cost next FY budget for interest just on the debt accumulated so far by the Republican Congress under the Bush administration:
o $1,000,000,000,000 (additional debt under Republicans and Bush) x 4.8% interest = $ 48,000,000,000/year (Based on 8-15-06 10 year T-Note)
o If interest goes to 6% for financing this debt, which it very well could, FY interest on Bush's debt becomes $60 Billion per year.
Let us also assume we want to pay off that debt some day.
· Here is the reality of our debt on future budgets. Remember, this is just Bush's debt.
Interest Rate 4.875% 8/15/06 Treasury auction
Number of years 10 Years
Amount of Bush Debt $1,000,000,000,000.00 That's Trillion
Annual Cost for 10 years $128,719,609,440.76 Annual payment on Bush's Debt (P&I)
Above example based on one annual payment (P&I) for 10 years
This is just a simple example of what it could cost if we were to pay off the current Bush deficit in 10 years. The problem is we are not paying any debt back ever - we just keep borrowing more. To put it in perspective, the above payment example of $128.7 billion is more than the annual cost of the Medicare prescription drug plan and almost 3 times the budget of Homeland Security. We actually get something from Drug Plan and Homeland Security. And that interest is being paid to countries like China!
Some Interesting Links To Check out:
brillig
federal budget
(Shows a nice graph of the budget, with interest on our debt being the 4th largest budget item.)
usdebt
debt
Web page shows pie charts of where the government gets its revenue and where it spends it. Notice the disproportionate amount of income tax paid by individuals compared to Corporations.
your debt
This one is great, it continuously updates the debt.
usdebt
This site shows a graph of the national debt 1938 to present. You'll notice that during Democratic control, the line on the chart moved up slightly each year, until Reagan and Bush One, then tapered off under Clinton and then skyrocketed under George W.
Remember, if you want to save the Republican Party, vote for a Democrat OR stay home on election this time!
(Credit to a smarter, saner George -- my friend who wrote the above email)