Iraq and Afghan Wars as Contributing Factors to the 2008 Recession

Michael Kussmann
Mr. Pieppo
CIA 4U1
Thursday, October 25th, 2012
The Afghanistan and Iraq Wars as Contributing Factors to 2008 Recession
On December 1, 2008 the United States of the States entered into the worst recession since the great depression. Although the leading aim of the recession was exuberance in the housing market, not much goddam was placed on the billions of dollars spent on the wars in Afghanistan and Iraq. in the beginning thought to be quick fights, these long drawn expose wars clearly had a damaging impact on the U.S. economy. The negative economic ramifications of military spending in the Afghanistan and Iraq war were reckon constraints, increased debt, a reduction in GDP, an increase in unemployment and higher oil prices. An investigation of opportunity costs and a cost benefit synopsis of military spending impart provide further proof that these wars were a major cause of the 2008 American recession.
Cost of War #1: Federal budget Constraints
The United States declared war on Afghanistan less than a month after infamous terrorist attack on family line 11th, 2001. The main objective of Operation Freedom was to rid Afghanistan of substructure terrorists and the governing Taliban regime.



Two years after; on contact 19th, 2003, the Americans also declared war on Iraq in an attempt to oust Osama Bin Laden who was believed to be stock piling weapons of mass destruction. The commitment to two wars in such a short period of time had numerous American economists worried. They had urged politicians to do a cost benefit analysis before making such big decisions. President bush-league and his advisors thought these battles would be short and inexpensive and would restore state to the Middle East while securing oil prices.
Early estimates of the intercommunicate costs of war made by Mitch Daniels; who headed the White suffer budget office, were placed at $50 billion to $60 billion for Iraq and $ 40 billion for Afghanistan. In 2007 the United States had already spent...If you want to get a full essay, order it on our website: Ordercustompaper.com



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