- Our Party
Obama spending plan more expensive than New Deal/Iraq war combined
Posted on Jan 30, 2009
The blog Suitably Flip puts the cost of Obama's $1.2 trillion government expansion plan into perspective.
"So how big is the resulting $1.2 trillion spending package? Big enough to dwarf any government program in history, even after adjusting for inflation. It's bigger than the New Deal and the Iraq War combined. The interest alone will be costlier than the Louisiana Purchase or going to the moon. The $18 billion in bonuses paid legally by private Wall Street firms in 2008 - decried by the President as 'shameful' - is vanishingly small in comparison (smaller even than the bill's incremental food stamps expenditures).
"The only relatively modest component of the spending bonanza is the money tagged for infrastructure and energy efficiency (the ostensibly stimulative part), which accounts for less than 14% of the total."
If you still don't get it, go to Suitably Flip to see the costs laid out in visual form.