The following article
appeared on TomPaine.com,
September 11.
What
Can $87 Billion Buy?
The Center
for American Progress is a nonpartisan research and educational
institute based in Washington, D.C.
On
September 7th, President Bush asked Congress for an additional $87
billion for the war in Iraq, acknowledging that the engagement in
Iraq is going to cost many hundreds of billions of dollars. This
was a surprise considering that prior to the war, the administration
dismissed such estimates, and even fired its top economic adviser,
Lawrence Lindsey, for suggesting those estimates were correct. To
get some perspective, here are some real-life comparisons about
what $87 billion means.
$87b Is More Than The
Combined Total Of All State
Budget Deficits In The United States
The Bush administration
proposed absolutely zero funds to help states deal with these deficits,
despite the fact that their tax cuts drove down state revenues.
[Source: Center on
Budget and Policy Priorities]
$87b Is Roughly The
Total Of Two Years Worth Of All U.S. Unemployment Benefits
The U.S. spends about
$50 billion a year on unemployment insurance. At least 1.1 million
people have exhausted all of their unemployment benefits without
finding a job, and yet Congress has refused to extend benefits.
[Source: Center on Budget and Policy Priorities]
$87b Is Enough To Pay
The 3.3 Million People Who Have Lost Jobs $26,363 Each
The unemployment benefits
extension passed by Congress at the beginning of this year provides
zero benefits to "workers who exhausted their regular, state
unemployment benefits and cannot find work." All told, two
thirds of unemployed workers have exhausted their benefits. [Source:
Center on Budget and Policy Priorities]
$87b Is More Than Double
The Total Amount The Government Spends On Homeland Security
The U.S. spends about
$36 billion on homeland security. Yet, Sen. Warren Rudman (R-N.H.)
wrote "America will fall approximately $98.4 billion short
of meeting critical emergency responder needs" for homeland
security without a funding increase. [Source: Council
on Foreign Relations]
$87b Is 7 Times What
The Government Spends On Title I For Low-Income Schools
President Bush proposed
a budget of just $12 billion for Title I, leaving a $6.2 billion
hole in what he promised to spend on Title I in his No Child Left
Behind Bill. [Source: House Appropriations Committee]
$87b Is 87 Times The
Amount The Federal Government Spends On After School Programs
President Bush proposed
a budget that reduces the $1 billion for after-school programs to
$600 million – cutting off about 475,000 children from the program.
[Source: House Appropriations Committee]
$87b Is About 9 Times
What The Federal Government Spends On Special Education
Legislation authorizes
the federal government to pay 40 percent of the cost of special
education, but because of budget shortfalls, it only pays roughly
18 percent (or $9.9 billion), driving up local property taxes. [Source:
House Appropriations Committee]
$87b Is More Than 10
Times What The Government Spends On All Environmental Protection
The Bush administration
requested just $7.6 billion for the entire Environmental Protection
Agency. This included a 32 percent cut to water quality grants,
a 6 percent reduction in enforcement staff, and a 50 percent cut
to land acquisition and conservation. [Source: Natural
Resources Defense Council]
$87b Is 8 Times The
Total For Pell Grants -- The Major College Program In The U.S.
In 1975, when the Pell
Grant program was established, it financed about 84 percent of the
cost of attending a four-year public college. Today, that share
is down to about 40 percent, and under Congress’s current proposal
to freeze Pell Grant funding at about $10 billion, it would drop
to 38 percent. [Source: House Appropriations Committee]
$87b Is Enough To Give
Every Man, Woman And Child In America $300
"[We] want to control
spending. And I hope Congress lives up to their words. When they
talk about deficits, they can join us in making sure we don't overspend.
They can join us and make sure that [they are] focused those items
that are absolutely necessary to the American people." - President
Bush, Jan. 6, 2003
-0-
On
December 1, 2002, the front page of the Washington Post announced:
“U.S.
Facing Bigger Bill for Iraq War: Total Cost Could Run as High
as $200 Billion.” Four days later, The Black Commentator published
our own budgetary exercise in the Cover Story, “Rule of the Pirates:
The $200 Billion Payday.”
Here's what $200
billion represents:
The entire 2001 cost
of what is generally called welfare, including Temporary Assistance
to Needy Families, the Welfare to Work program, and food stamps:
$38.8 billion. Plus,
all federal spending
on education in 1999 - 2000: $55 billion. Plus,
the entire 2002 budget
of the Department of Housing and Urban Development: $30.4 billion.
Plus,
the entire 2000 - 2001
budget of the Department of Labor: $34. 2 billion. Plus,
the value of all U.S.
agricultural exports to the world in fiscal 2000: $50.9 billion.
Total: $209.3 billion,
a little bit over the projected cost of war and occupation of one
country; but then, overruns can be predicted.