NEW STUDY:Economic Cost Of Iraq War Much Larger Than Previously Recognized

[kpete]

The Cost of The War
Submitted by davidswanson on Fri, 2006-01-06 11:28. Media
By Pascal Riche, TPMCafe

From: Foreign Affairs
Nobel Laureate Joseph E. Stiglitz and Harvard budget expert Linda Bilmes plan to present this week a paper estimating the cost of the Iraq War at between $1-2 trillion. This is far higher than earlier estimates of $100-200 billion.
Here is their statement:

NEW STUDY SUGGESTS ECONOMIC COST OF IRAQ WAR MUCH LARGER THAN PREVIOUSLY RECOGNIZED

A new study by two leading academic experts suggests that the costs of the Iraq war will be substantially higher than previously reckoned. In a paper presented to this week’s Allied Social Sciences Association annual meeting in Boston MA., Harvard budget expert Linda Bilmes and Columbia University Professor and Nobel Laureate Joseph E. Stiglitz calculate that the war is likely to cost the United States a minimum of nearly one trillion dollars and potentially over $2 trillion.

http://www.afterdowningstreet.org/?q=node/6447

[depakid]

1. About what I figured

Once you add in all indirect, externalized and opportunity costs.

It'll be interesting to see what their methodology was.

Too bad people don't get how much a trillion dollars is.

$1,000,000,000,000. Wow.

That would have bought a lot of powerdown development (or a lot of healthcare).

[PunkPop]

2. The Crime of the Century (so far).

This century's young of course. But this one is going to be hard to beat.