DNC - Senator McCain Watch: The Cost of War and the Impact on the Economy

Washington, DC-It's only Tuesday, but John McCain is already off to yet another bad week. After spending yesterday explaining how he confused Iraq and Afghanistan and watching the Iraqi leadership reject his vision for the future of Iraq, McCain today is traveling to two states that highlight the economic impact of his decision to march in lockstep with the Bush Administration on the war in Iraq and on the economy.

Like President Bush, John McCain is out of touch with the impact the Bush-McCain strategy in Iraq has had on our ability to invest in confronting the challenges facing working families here at home. Not only has Senator McCain said he would be willing to keep our troops in Iraq for 100 years, his willingness to continue spending $10 billion a month there would mean fewer resources to invest in confronting soaring gas prices, making health insurance more affordable, and addressing a mortgage crisis that has left thousands of Americans struggling to keep their homes.

While taxpayers in the Maryland and New Hampshire have paid more than $12 billion and $2 billion respectively for their share of the cost of the war in Iraq, both states have been hit hard by the failed and flawed Bush-McCain economic policies. Since 2001, New Hampshire has lost nearly 10,000 jobs, while Maryland has lost more than 20,000. Incomes are stagnant in New Hampshire and have actually fallen in Maryland -- even as the cost of living has gone through the roof.

McCain's plan to continue the Bush Administration's Iraq policy comes at a steep cost to Americans already struggling economically. Just the cost of war to the people of Maryland, $12.8 billion so far, could have gone toward health care for about 4.9 million sick children for one year. In New Hampshire, the cost of war for that state could have provided 14,000 affordable housing units. McCain's misguided priorities would mean continuing the war in Iraq indefinitely at the expense of American families who need assistance right now.

When it comes to the economy and Iraq, McCain is out of touch with Americans and in lock-step with Bush.

MCCAIN INACTION TOUR BRINGS BUSH-MCCAIN ECONOMIC POLICIES TO NEW HAMPSHIRE AND MARYLAND


…But McCain Claimed Americans Were Better Off Because We Have Had A Pretty Good Prosperous Time.
In the January 2008 Republican debate, McCain commented, I think you could argue that Americans overall are better off, because we have had a pretty good prosperous time, with low unemployment and low inflation and a lot of good things have happened. A lot of jobs have been created. [CNN GOP Debate, 1/30/08, video]

McCain's Economic Plans Really Are An Extension of the Bush Administration Policies.

McCain doesn't like to hear it, but his economic plans really are an extension of Bush administration policies…When all the economic mumbo-jumbo is removed, that fact remains. [Boston Globe, Editorial, 7/9/08, boston.com ]

McCain Said A Lot of Americans Economic Problems Are Psychological.
When discussing the gas tax holiday, McCain said, I think, psychologically - and a lot of our problems today, as you know, are psychological - confidence, trust, uncertainty about our economic future, ability to keep our own home. McCain said that his gas holiday will give people a psychological boost and that solving the mortgage crisis would be a major psychological step forward. [FOX News, Your World With Neil Cavuto, 4/16/08, video]

COST OF WAR IN NEW HAMPSHIRE AND MARYLAND

Maryland's Share Of The Cost Of Iraq War Funding Approved To Date Is $12,816,932,105 [The President's War Request: Local Costs Updated, National Priorities Project, accessed 7/21/08, http://www.nationalpriorities.org/costofwar0508 ]

New Hampshire's Share Of The Cost Of Iraq War Funding Approved To Date Is $2,703,990,910 [The President's War Request: Local Costs Updated, National Priorities Project, accessed 7/21/08, http://www.nationalpriorities.org/costofwar0508 ]

MCCAIN OFFERS MORE OF THE SAME FAILED BUSH ECONOMIC POLICIES FOR NEW HAMPSHIRE…

Unemployment Up 50%.
Unemployment is up in New Hampshire. It was 2.8% in January of 2001, and preliminary figures for March 2008 are 4.0%. The number of unemployed has gone up from 19,653 to 29,579, an increase of almost 9,926 workers. [Local Area Unemployment Statistics, (Seasonally Adjusted), Bureau of Labor Statistics, accessed 7/17/08, bls.gov ]

Incomes Stagnant.
Median household income in New Hampshire has increased from $57,664 in 2000 to $60,411 in 2006, a increase of only $2,747 per household-a difference that is not statistically different from zero. [Joint Economic Committee Fact Sheet, (Bureau of the Census, U.S. Department of Commerce), 8/29/07, jec.senate.gov ]

…AND MORE OF THE SAME FAILED BUSH ECONOMIC POLICIES IN MARYLAND

Unemployment Up 21%.
The unemployment rate in Maryland was 3.6% in January of 2001, and preliminary figures for June 2008 are 4.0%. The number of unemployed has gone up from 100,853 to 121,723, an increase of 20,870 workers. [Local Area Unemployment Statistics, (Seasonally Adjusted), Bureau of Labor Statistics, accessed 7/20/08, data.bls.gov ]

Incomes Down 0.7%.
Median household income in Maryland has decreased from $63,496 in 2000 to $63,082 in 2006, a decrease of $414 per household. [Joint Economic Committee Fact Sheet, (Bureau of the Census, U.S. Department of Commerce), 8/29/07, jec.senate.gov ]