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blade
Joined: 30 Jun 2007
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 Posted: Sun Sep 05, 2010 8:16 am Post subject: $3,000,000,000,000 |
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The true cost of the Iraq war: $3 trillion and beyond
By Joseph E. Stiglitz and Linda J. Bilmes
Sunday, September 5, 2010; B04
Writing in these pages in early 2008, we put the total cost to the United States of the Iraq war at $3 trillion. This price tag dwarfed previous estimates, including the Bush administration's 2003 projections of a $50 billion to $60 billion war.
But today, as the United States ends combat in Iraq, it appears that our $3 trillion estimate (which accounted for both government expenses and the war's broader impact on the U.S. economy) was, if anything, too low. For example, the cost of diagnosing, treating and compensating disabled veterans has proved higher than we expected.
Moreover, two years on, it has become clear to us that our estimate did not capture what may have been the conflict's most sobering expenses: those in the category of "might have beens," or what economists call opportunity costs. For instance, many have wondered aloud whether, absent the Iraq invasion, we would still be stuck in Afghanistan. And this is not the only "what if" worth contemplating. We might also ask: If not for the war in Iraq, would oil prices have risen so rapidly? Would the federal debt be so high? Would the economic crisis have been so severe?
http://www.washingtonpost.com/wp-dyn/content/article/2010/09/03/AR2010090302200.html
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Truly shocking how much money has been pee against the wall in the name of freedom. Time to cut social security I suppose. |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Sun Sep 05, 2010 8:20 am Post subject: Re: $3,000,000,000,000 |
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| blade wrote: |
Truly shocking how much money has been pee against the wall in the name of freedom. Time to cut social security I suppose. |
There should be something against the wall, alright - the group of neo-cons who orchestrated this fiasco. |
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donducky
Joined: 02 Dec 2009
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| Posted: Sun Sep 05, 2010 10:18 am Post subject: Believe it! |
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| So wouldn't it just be like . . . so cool . . . if we had . . . like . . . a black Democrat as president? Cause that would like . . . change everything, right? Change we can believe in, dig it? Cause we're a Protestant country, and sort of really need to . . . ah . . . believe . . . in something? |
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rollo
Joined: 10 May 2006
Location: China
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| Posted: Sun Sep 05, 2010 9:03 pm Post subject: |
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| Some one thinks the U.s. is like wow a protestant country! Amazing I had like sorta thought we had a secular government But then I grew up in a place where we didnt attack other nations because of the assorted lies of theives, drunkards and other traveling con artist. Dude like when did the Protestant church become the official religion? |
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BoholDiver
Joined: 03 Oct 2009
Location: Canada
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| Posted: Sun Sep 05, 2010 11:30 pm Post subject: Re: Believe it! |
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The first step is making people realize that change is necessary.
The US is so messed up it'd take Obama 10 terms to un-fook it.
| donducky wrote: |
| So wouldn't it just be like . . . so cool . . . if we had . . . like . . . a black Democrat as president? Cause that would like . . . change everything, right? Change we can believe in, dig it? Cause we're a Protestant country, and sort of really need to . . . ah . . . believe . . . in something? |
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chungbukdo
Joined: 22 Aug 2010
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| Posted: Mon Sep 06, 2010 4:51 am Post subject: Re: Believe it! |
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| BoholDiver wrote: |
The first step is making people realize that change is necessary.
The US is so messed up it'd take Obama 10 terms to un-fook it. |
Obama is currently adding to the deficit by the trillions. I don't see how that's a step in the right direction.
Hearing liberals in this thread pretend like they care about this 3 trillion is hilarious. Where is your outrage for the 100 trillion plus unfunded liabilities which will bankrupt the country? Oh, just add a health care bill on that you support too 
The US is going to get what it deserves in the coming decade: hyperinflation and a drastically lowered standard of living because of all the entitlement and welfare programs that American voters want but evade the costs of. They will pay for their socialism. The middle and lower class who like to fleece the producers and deficit spend will be hit hard, and hopefully the producers will flee to a safer place that actually respects markets. |
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Man on Street
Joined: 28 Aug 2010
Location: In the Seoul
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| Posted: Mon Sep 06, 2010 7:48 am Post subject: |
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| My favorite Beatle was Ringo |
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The Happy Warrior
Joined: 10 Feb 2010
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| Posted: Mon Sep 06, 2010 9:11 am Post subject: Re: Believe it! |
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| chungbukdo wrote: |
| BoholDiver wrote: |
The first step is making people realize that change is necessary.
The US is so messed up it'd take Obama 10 terms to un-fook it. |
Obama is currently adding to the deficit by the trillions. I don't see how that's a step in the right direction.
Hearing liberals in this thread pretend like they care about this 3 trillion is hilarious. Where is your outrage for the 100 trillion plus unfunded liabilities which will bankrupt the country? Oh, just add a health care bill on that you support too |
Ask yourself: What's the difference between providing health care or launching a war of choice?
I mean, I don't consider myself a social liberal, but you're better off attacking TARP (wait, Bush, oops) or the Stimulus than health care. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Tue Sep 07, 2010 4:56 am Post subject: |
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| Quote: |
| The US is going to get what it deserves in the coming decade: hyperinflation and a drastically lowered standard of living because of all the entitlement and welfare programs that American voters want but evade the costs of. They will pay for their socialism. The middle and lower class who like to fleece the producers and deficit spend will be hit hard, and hopefully the producers will flee to a safer place that actually respects markets. |
We finally get an honest conservative on the site. I like how you defend the upper class. Go for it! You bring warmth to every libertarian/conservative heart. Cold hearts need warmth.
And yes, that $3 TRILLION is probably closer to the true cost of the war. |
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Leon
Joined: 31 May 2010
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| Posted: Tue Sep 07, 2010 5:16 am Post subject: Re: Believe it! |
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| chungbukdo wrote: |
| BoholDiver wrote: |
The first step is making people realize that change is necessary.
The US is so messed up it'd take Obama 10 terms to un-fook it. |
Obama is currently adding to the deficit by the trillions. I don't see how that's a step in the right direction.
Hearing liberals in this thread pretend like they care about this 3 trillion is hilarious. Where is your outrage for the 100 trillion plus unfunded liabilities which will bankrupt the country? Oh, just add a health care bill on that you support too
The US is going to get what it deserves in the coming decade: hyperinflation and a drastically lowered standard of living because of all the entitlement and welfare programs that American voters want but evade the costs of. They will pay for their socialism. The middle and lower class who like to fleece the producers and deficit spend will be hit hard, and hopefully the producers will flee to a safer place that actually respects markets. |
Bankrupt the country? Sure thing man, you make it sound like we haven't been far in the hole and recovered before. The thing is that it sounds like you want it to happen so you can live out your free market fantasy and Randian revolution. What we "deserve", the middle class and low class "fleece" the producers. I respect people, what you deal in isn't economics it's ideology. |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Tue Sep 07, 2010 5:19 am Post subject: Re: Believe it! |
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| chungbukdo wrote: |
| The US is going to get what it deserves in the coming decade: hyperinflation and a drastically lowered standard of living because of all the entitlement and welfare programs that American voters want but evade the costs of. They will pay for their socialism. The middle and lower class who like to fleece the producers and deficit spend will be hit hard, and hopefully the producers will flee to a safer place that actually respects markets. |
So that whole deflation worry is nonsense? I see.
| Quote: |
| I mean, I don't consider myself a social liberal, but you're better off attacking TARP (wait, Bush, oops) or the Stimulus than health care. |
Indeed. |
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Rothbard
Joined: 23 Aug 2010
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| Posted: Tue Sep 07, 2010 5:28 am Post subject: Re: Believe it! |
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| bucheon bum wrote: |
So that whole deflation worry is nonsense? I see.
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What's wrong with deflation? |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Tue Sep 07, 2010 5:33 am Post subject: Re: Believe it! |
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| Rothbard wrote: |
| bucheon bum wrote: |
So that whole deflation worry is nonsense? I see.
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What's wrong with deflation? |
I didn't say anything was wrong with it, I was simply implying that chungbukdo's concern with hyperinflation seems silly at this point in time. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Tue Sep 07, 2010 6:23 am Post subject: |
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| what you deal in isn't economics it's ideology |
That's about 97.84% of what's wrong with the criticism of Obama, and ideology is so 20th Century. |
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rollo
Joined: 10 May 2006
Location: China
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| Posted: Wed Sep 08, 2010 2:46 am Post subject: |
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| But that three trillion wasnt real money it was only sort of real money and the dead Iraqi children just faking. Obama is going to sell your daughters to ARabs!! |
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