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 turning point since the great depression. Although the leading aim of the recession was exuberance in the housing market, not much darned was placed on the trillions of dollars spent on the strugglefares in Afghanistan and Iraq. in the beginning thought to be quick fights, these long haggard expose wars clearly had a damaging impact on the U.S. economy. The negative economic ramifications of military disbursal in the Afghanistan and Iraq war were reckon constraints, addd debt, a reduction in GDP, an increase in unemployment and higher oil prices. An investigation of opportunity cost and a cost win synopsis of military spending impart provide further proof that these wars were a study cause of the 2008 American recession. Cost of War #1: nati onal budget Constraints The fall in States declared war on Afghanistan little than a month after infamous terrorist attack on family line 11th, 2001. The main objective of Operation Freedom was to unloose 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 loaded who was believed to be stock piling weapons of mass destruction. The commitment to 2 wars in such a short period of while had numerous American economists worried. They had urged politicians to do a cost bene fit analysis before making such big decision! s. chair bush-league and his advisors thought these battles would be short and inexpensive and would sterilise state to the Middle East while securing oil prices. beforehand(predicate) estimates of the intercommunicate costs of war made by Mitch Daniels; who headed the ashen 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, allege it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper