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August 25, 2010
Graph of the Day for August 25, 2010
"That is why I have moved quickly to work with my economic team and leaders of both parties on an American Recovery and Reinvestment Plan that will immediately jump- start job creation and long-term growth. It's a plan that represents not just new policy, but a whole new approach to meeting our most urgent challenges. For if we hope to end this crisis, we must end the culture of ‘anything goes' that helped create it. And this change must begin in Washington. It's time to trade old habits for a new spirit of responsibility. It is time to finally change the ways of Washington so that we can set a new and better course for America.
"There is no doubt that the cost of this plan will be considerable. It will certainly add to the budget deficit in the short term." President-elect Barack Obama, January 8, 2009.
Where the Stimulus (ARR Act) Goes
Data source: CBO.
Hoven's Index for August 25, 2010
The stimulus's additions to the deficit:
In 2009: $180 billion
In 2010: $392 billion
Cumulative 2009-2019: $814 billion
All funding (including non-military) for the Iraq War in 2008 (peak year): $140 billion
Cumulative Iraq War spending, 2003-2010: $709 billion
Graph of the Day Archive.