Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

What Price Glory?

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Topic Forums » Economy Donate to DU
Pale_Rider Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 06:25 PM
Original message
What Price Glory?
Edited on Wed Apr-07-04 06:26 PM by white_rider
A newly release Bush File that was a briefing paper for O'Neill.

Iraq and the U.S. Economy

During the fall of 2002, the Bush administration was busy developing plans for an invasion of Iraq. As a part of this effort, the Treasury Department was directed to study the possible economic impact of a Middle East war. The briefing was not intended for the president, however, but for Vice President Cheney, who was coordinating Iraq policy. Treasury's research resulted in a September 11, 2002, memo to Secretary O'Neill preparing him for his meeting with Cheney. The document, written by assistant secretary Richard Clarida, found that a war was unlikely to "derail the expansion," but it did project a worst-case scenario that could reduce GDP growth by 0.9 percent, raise unemployment by three-tenths of a point, and increase inflation. Clarida's forecast, however, deals only with the impact from fluctuations in the price of oil. Not until the last two paragraphs of the four-page memo does he acknowledge that the economic impact of war might not be limited to rising oil prices. War could have unpredictable consequences for the American economy.

... snip ...

Wonder if anyone else anticipated that gasoline prices would increase with this war?
Printer Friendly | Permalink |  | Top
mastein Donating Member (294 posts) Send PM | Profile | Ignore Thu Apr-08-04 11:46 AM
Response to Original message
1. You think???
Make no bones of it. Energy (Enron et al) got this president into office, and he works for them, and only them. He let them manipulate the Cal. electric market in 01-02 and is helping his boys in Lubbock out every way he can. There are so many things the energy companies have been allowed to do on this watch it isn't funny. Look for gas prices to vary inversley with Bush's standing in the polls. If it looks like he will lose on other issues through this summer, he will do everything he can to make his friends (and himself by fundraising) rich as hell.
Printer Friendly | Permalink |  | Top
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sun Oct 22nd 2017, 07:28 AM
Response to Original message
Advertisements [?]

Home » Discuss » Topic Forums » Economy Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC