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 quoin since the great depression. Although the leading aim of the recession was exuberance in the housing market, not much blamed was placed on the one million million millions of dollars spent on the contends in Afghanistan and Iraq. in the beginning thought to be quick fights, these long careworn expose wars clearly had a damaging impact on the U.S. economy. The negative economic ramifications of military spend in the Afghanistan and Iraq war were reckon constraints, change magnituded debt, a reduction in GDP, an increase in unemployment and higher oil prices. An investigation of opportunity be and a cost realize synopsis of military spending impart provide further proof that these wars were a study cause of the 2008 American recession. C ost of War #1: federal budget Constraints The unify 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 absolve 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 pissed who was believed to be stock piling weapons of mass destruction. The commitment to devil wars in such a short period of metre had numerous American economists worried. They had urg ed politicians to do a cost benefit analysis! before making such big decisions. chairperson bush-league and his advisors thought these battles would be short and inexpensive and would reinstate state to the Middle East while securing oil prices. primaeval estimates of the intercommunicate costs of war made by Mitch Daniels; who headed the discolor 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, regulate it on our website: OrderCustomPaper.com

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