Short and quick post today–very sleepy and tired, not sleeping well last couple of nights.
(Hey, look at me, I’m doing what bloggers do!)
When U.S. troops invaded Iraq in March 2003, the Bush administration predicted that the war would be self-financing and that rebuilding the nation would cost less than $2 billion.
That’s the opening from an article on the McClatchy site that reports on a new assessment by Noble Prize-winning economist Joseph Stiglitz and Harvard University professor Linda Bilmes, who peg the cost of the war as being $3 trillion, minimum. One one accounts for the cost of “continued military presence in Iraq and lifetime health-care and counseling for veterans,” the cost of this war escalates to as much at $7 trillion.
Of course the Bush administration is quick to defend their wildly and irresponsible misestimation by…avoiding the issue and redirecting the issue as a jab against Stiglitz patriotism and moral fortitude:
“People like Joe Stiglitz lack the courage to consider the cost of doing nothing and the cost of failure. One can’t even begin to put a price tag on the cost to this nation of the attacks of 9-11,” said White House spokesman Tony Fratto, conceding that the costs of the war on terrorism are high while questioning the premise of Stiglitz’s research.