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 coupled States of the States entered into the worst respite since the great depression. Although the leading aim of the recession was exuberance in the housing market, not much curst was placed on the millions of dollars spent on the state of contends in Afghanistan and Iraq. in the beginning thought to be quick fights, these long force expose wars clearly had a damaging impact on the U.S. economy. The negative economic ramifications of military consumption in the Afghanistan and Iraq war were reckon constraints, cast upd debt, a reduction in GDP, an increase in unemployment and higher oil prices. An investigation of opportunity cost and a cost proceeds 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 official budget Constraints The linked States declared war on Afghanistan less(prenominal) than a month after infamous terrorist attack on family line 11th, 2001. The main objective of Operation Freedom was to dislodge 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 sloshed who was believed to be stock piling weapons of mass destruction. The commitment to dickens wars in such a short period of duration had numerous American economists worried. They had u rged politicians to do a cost benefit analys! is before making such big decisions. chairman bush-league and his advisors thought these battles would be short and inexpensive and would touch on state to the Middle East while securing oil prices. earlyish estimates of the intercommunicate costs of war made by Mitch Daniels; who headed the dust coat 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, hallow it on our website: OrderCustomPaper.com

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