Iraq War Economics

One of the major components of the war in Iraq is economics. The war is having effects on both the economy in Iraq, and the economy in the United States. The first economic factor that comes to everyone's mind is oil. But what about oil? What effect is Iraq's oil supply having on both our economy and there's. I would argue that the war certainly isn't being fought over just oil, it has to be a lot deeper then that. However oil companies have been making record profits since the start of the war. Companies like Halliburton also make money from its various contracts in Iraq. It is important to note that Dick Cheney, our vice president, has came under a lot of criticism over Halliburton's involvement in Iraq. (Dick Cheney was the former head of Halliburton). Most notably the 73 million dollars of contracts signed in 2001.

It makes me wonder who else is benefiting from the war in Iraq. It certainly isn't the average American, who is dealing with outrageous gas prices. It also important to note that our country is spending ridiculous amounts of money funding this war, and our country is going into a severe deficit. When Bill Clinton left office, the United states was making more money every year then it was spending, but that certainly isn't the case now, 7 years into George Bush's presidency. What is even more troublesome to note the tax cuts that the president gave to Americans. Tax cuts are not always good. And what kind of president gives tax cuts during a period of war? In fact George Bush is the only leader to ever give at cuts during a time of war.
The United States spends over 1.8 billion dollars a week on funding the war in Iraq, and there is no end in site! It will definitely be interesting to see what kinds of financial effects the war in Iraq will have on our nation in the future. The effects of the war will have to be dealt with sooner rather then later.

The Iraq war will definitely be a big issue in the 2008 election. The cost of the war could easily be the main focus. The American public owes it to themselves to learn about the costs of the war. After that, they should evaluate whether or not they support this cost.

Sources:

http://www.nytimes.com/2007/01/17/business/17leonhardt.htmlhttp://www.msnbc.msn.com/id/11880954/