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November 13, 2007

The Right Wings's $3 trillion fiasco
Posted by Max Bergmann

The Washington Post has an article this morning that lays out the real cost of the war in Iraq at $1.5 trillion, which is almost double the total amount appropriated. As Robert Hormats of Goldman Sachs and formerly of the Nixon, Ford, and Carter administrations explains in the Post story, "The wars will cost a lot more than the appropriated sums, and it's certainly true our children will be paying for this for a long, long time."

The situation only gets worse if you project out the cost of the war. CAP released a study in September that projected out the cost (in appropriations) of staying in Iraq for an an additional ten years. They estimated that it would cost between $493 billion and $915 billion depending on the number of troops on the ground. So if you take the "hidden cost" report with CAP's you are looking at a total cost of war of about $3 trillion or an additional $1.5 trillion.

In other words, that additional $1.5 trillion is really the cost of electing another Republican to the White House.

Cost_of_war
Costchart_2

November 13, 2007 at 10:17 AM |

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Comments

"real cost of the war "

No. The real cost of the war has been borne by the iraqi people.

The americans have lost some soldiers and have spent some money.

Boo Hoo.

Posted by: kb | November 13, 2007 at 05:07 PM

Now I'm not an economist but looking at this as a 'cost' is just denying the obvious. It is actually an increase in the US Gross National Product, or income, in other words a boost to the US economy. What's wrong with that? It has lead to new highs in corporate profits and stock prices, which everyone knows are the basic indicators of American life.

When you hear the news on radio or teevee do you usually hear about the cost of anything? No, you hear about corporate profits and the stock market. This is the basis of capitalism, after all. Costs don't matter but profits do.

"War is a racket--the only one in which the profits are reckoned in dollars and the losses in lives." IOW they didn't die in vain.

I'm considering running Smedley Butler, who said that war is a racket, for president. Even a dead man, if he was right, might beat any of the fools now running. Any support out there?
http://www.warisaracket.org

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