Eight Years of Iraq War Cost Less Than Stimulus Act

What point was the President trying to make about the economy in last night's speech? I've heard Democrats say he was wonderful, Republicans say he was wooden and looked uncomfortable, the media was just obsequious, but what about the lies?

Obama seemed to blame the current economy problems on the costs of war [i.e., everything is Bush's fault]: "Unfortunately, over the last decade, we’ve not done what’s necessary to shore up the foundations of our own prosperity. We spent a trillion dollars at war, often financed by borrowing from overseas. This, in turn, has short-changed investments in our own people, and contributed to record deficits. For too long, we have put off tough decisions on everything from our manufacturing base to our energy policy to education reform. As a result, too many middle-class families find themselves working harder for less, while our nation’s long-term competitiveness is put at risk."

According to CBO numbers in its Budget and Economic Outlook published this month, the cost of Operation Iraqi Freedom was $709 billion for military and related activities, including training of Iraqi forces and diplomatic operations. The projected cost of the stimulus, which passed in February 2009, and is expected to have a shelf life of two years, was $862 billion. The U.S. deficit for fiscal year 2010 is expected to be $1.3 trillion, according to CBO. That compares to a 2007 deficit of $160.7 billion and a 2008 deficit of $458.6 billion, according to data provided by the U.S. Office of Management and Budget. In 2007 and 2008, the deficit as a percentage of gross domestic product was 1.2 percent and 3.2 percent, respectively" and under Obama 9.1%.

the cost of the Iraq war from 2003-2008 -- when Bush was in office -- was $20 billion less than the cost of education spending and less than a quarter of the cost of Medicare spending during that same period. Bush's social spending cost us more than the war.

So, tell us that part again, Mr. President. . .
FOXNews.com - CBO: Eight Years of Iraq War Cost Less Than Stimulus Act