For occupying Iraq, the U.S. is spending $3.9 billion a month. (Pentagon Estimation) .If US continues it imperialism in Iraq, American government has to pay $200 billion in next four years (Pentagon estimation). .
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The Iraqi economy is totally dependent on oil production. But bombing in Iraq has totally devastated the country and the infrastructure of oil production. The oil production is .
unlikely to be restored to its full potential in the near future. So anywhere between $5 to $120 billion (Pentagon estimation) a year is estimated to be spent for the reconstruction over the next several years. The Congressional Budget Office predicted a record federal budget deficit of $480 billion next year. In its budget and economic outlook, the agency reported that the government would face a $401 billion budget shortfall in 2003. It predicted a total budget deficit of slightly less than $1.4 trillion between fiscal years 2004 and 2013. So it is evident that the U.S. must stop imperialism while suffering from such a severe budget deficit. Because of Iraq war there will be a loss of 1.6 million jobs in 2003 and 2004 in US which implies that the economy will have 300,000 fewer jobs over next 7 years from 2005 to 2011 (William Nordhaus" estimation of GDP loss).
The second reason why American imperialism is bad is that it is dividing the whole World. For example the war against Iraq marked a turning point in world relations. Bush administration's decision to defy the UN and go to war has led to cracks that threaten to shatter the entire structure of international relations and institutions developed since World War Two. We see splits and divisions opened up not only in the UN, but also in the European union, NATO, the G-8 and most importantly between France and Germany on the one side and the US and Britain on the other. Splitting of UN is weakening its power because member countries other than the U.
