Guys, please, I need your help a lot!!! Iraq War GDP question.....

DoctorGonzo

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Tue Nov-08-05 11:24 PM
Original message

Guys, please, I need your help a lot!!! Iraq War GDP question.....

I'm doing a research paper on the Iraq war and its costs and impact on our economy. A friend of mine told me the war has cost us so far 300 billion, or about 2 to 5% of GDP.(that's right, 2 to 5% of our total wealth!!) And you wonder why gasoline has doubled in 2 years - not to mention inflation.

If anybody knows how much we've spent so far and how much exactly in terms of percentage GDP we've blown over there and if they could pass that information on I would greatly appreciate it. :D

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tritsofme

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Tue Nov-08-05 11:30 PM
Response to Original message

1. Our GDP is nearly $12 trillion

So in terms of one year $300 billion would be about 2.5%

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DoctorGonzo

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Tue Nov-08-05 11:32 PM
Response to Reply #1

2. Are you sure?

Edited on Tue Nov-08-05 11:35 PM by DoctorGonzo

"Our GDP is nearly $12 trillion"

Somebody told me it's 17 billion because of real estate values and equity. They're probably wrong and you're probably right knowing the source of that tidbit of info. But just curious, do you have a source for that stat? I need it for this stupid ass paper man. I'd appreciate it.

And think about it: nearly 3% of our total wealth blown in 2 years. And we're still at least 3 years from the end of that stupid war. Imagine what's going to happen when all is said and done - we'll have spent up to 5 to 10% of GDP. Inflation will soar and the cost of living with it.

Thank you Mr. Bush.

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punpirate

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Tue Nov-08-05 11:53 PM
Response to Reply #2

3. Last year's GDP...

... was about $11.5 trillion. But, perhaps, you're mistaking GDP for real wealth. GDP is the annual production of the country, not real wealth.

And, besides, GDP is a meaningless measure, because it's not the money available to the government to spend. So, one has to look at the government's budget and available revenues from taxes. From that perspective, all the money spent on the war is off-budget and goes directly to debt. Every single penny spent on the war has been borrowed.

Cheers.

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DoctorGonzo

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Wed Nov-09-05 12:17 AM
Response to Reply #3

4. Thanks for the information

Edited on Wed Nov-09-05 12:18 AM by DoctorGonzo

What exactly is "real wealth?" And how much exactly do we have if you know? And thank you for the information regarding GDP.

"And, besides, GDP is a meaningless measure, because it's not the money available to the government to spend. So, one has to look at the government's budget and available revenues from taxes. From that perspective, all the money spent on the war is off-budget and goes directly to debt. Every single penny spent on the war has been borrowed."

Borrowed from the fucking Communists too - 600 billion worth of Chinese bond money. Of all the people in the world who could have our economic balls in a vice grip......

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punpirate

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Wed Nov-09-05 12:39 AM
Response to Reply #4

5. There are probably several different definitions...

... based on how it's measured, but it's generally thought of as all real assets, real estate (generally, the primary home is not figured into real wealth estimates), securities of most kinds, things that aren't normally depreciable. Precious metals probably are included. Some figure in equities (stocks) in that measure. All those measurements would be after subtracting debt.

As I recall, though, real wealth was estimated to be something like $50 trillion.

Cheers.

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Bridget Burke

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Wed Nov-09-05 12:30 PM
Response to Original message

6. Don't research papers demand references?

Something a friend told you--or comments on a message board--aren't really enough.

It's called homework!

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DoctorGonzo

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Wed Nov-09-05 01:18 PM
Response to Reply #6

7. Homework, yeah, I know

I'm just trying to get some basic numbers for the paper. I've still got a week left on it.

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