Economically- Is it bad for US to withdraw its troops from Iraq?

Question

Can somebody explain me this? thanks.

Answer 1

my pastor said that it's not the economy it's sin.

Answer 2

No, it would be the best thing for our economy.

The U.S. currently spends around $12 billion per month! that is about $5000 ever second to support operations there.  So far the U.S. has spend over $572 billions since operations began in 2003.

The U.S. cost for the war is ever increasing and we don't know how long or how much more money will need to be spend there before the American people and congress wake up.

Now economically speaking, the money we are spending in Iraq is borrowed money since the government is running an ever growing account deficit.  Meaning the government spends more money than it collects from taxes.  We borrow money from citizens and other countries who buy our debt and in return the government makes interest payments and eventually pay the money back.  In order to pay this kind of money a combinations of things have to happen and that is taxes must go up and government services must go down.  

Without going too much into the mechanics, you should know that big government deficits are bad for the economy, higher taxes are bad for the economy.  Because they increase inflation, raise interest rates go up, devaluation of the domestic currency, GDP goes down, and with that capita GDP goes down, standard of living goes down, unemployment increases.  

Everything is connected, one thing leads to the another in different time frames from the short run to the long run.  

Now some would argue that the war helps the economy by creating government spending, consumption and jobs but to those who think that way, I only need to remind you of the broken window fallacy.   Think about it how would the economy benefits the most by making and exploiting one million dollars worth of bombs or by using one million dollars on educational grants? where do you get a bigger return? With bombs you get 0 return but with education you get a much bigger return since with education you are investing in the human stock of a country which ultimately raises the productivity of a country's economy creating good positive effects in the economy and standard of living for the population.

Lastly, why should the U.S. government and the U.S. public should pay for reconstruction for this country who has a lot of money from oil revenues? they rather save this money, and let us pay for new construction.  Is that fair for the people of the U.S?

So I say get out and get out now!

  

Answer 3

no it is probably not a bad decision to do so at this time

Answer 4

I think it would be a good idea economically.

1. We wouldn't have to soend so much money for supplies for our troops

2. Our troops make good money and if they are in our country, they would spend it here.

3. My fiance is in the Army and I don't want him to be deployed :)