…and I thank God I am an Arts student. In case you are interested, that equation is meant to show something about how the domestic policies of country i effect inflation over time period t.But I really do wish I could understand economics, then, perhaps, I could grasp the true significance of the following:
- The estimated cost of the US War in Afghanistan: $225,502,000,000
- The estimated cost of the US War in Iraq: $677,805,000,000
- Total cost of US wars since 2001: $903,307,000,000 [1]
- The US budget for Iraq in the 2007 financial year: $4,988/Iraqi. This is triple Iraq's per-person GDP. [2]
- In 2009, the US government will:
icrease spending by 22%
spend $30,958 per household
tax $17,576 per household
borrow $13,392 per household - More than 43 cents of every dollar Washington spends in 2009 will have been borrowed
- President Obama would permanently keep annual spending between $5,000 and $8,000 per household higher than it had been under President George W. Bush
- The Obama Administration has been predicted to accumulate more government debt than every President in American history from George Washington to George W. Bush combined.
- By 2019, the US government will spend almost $800 billion as net interest on debts [3]
- The US has the widest gap between rich and poor of any industrialized nation. [4]
- Total debts of the developing world in 2006: $2.7 trillion
- Total official development assistance in 2006: $106 billion [5]
[1]
[2] http://zfacts.com/p/447.html
[3] http://www.heritage.org/research/budget/wm2595.cfm
[4] http://web.archive.org/web/20020604053519/http:/www.observer.co.uk/comment/story/0,6903,706484,00.html
[5] http://www.globalissues.org/article/26/poverty-facts-and-stats
