Stiglitz and Bilmes: Wars could cost $4 trillion to $6 trillion

[jeanpalmer]

Six hundred thousand soldiers have already sought medical treatment from the Department of Veterans Affairs, and 500,000 have applied for disability benefits.

Joseph Stiglitz, who received the 2000 Nobel Prize for Economics, and Linda Bilmes, a public policy professor at Harvard University, said the number of veterans seeking post-combat medical care and the cost of treating those individuals is about 30 percent higher than they initially estimated. That, combined with increases in the cost of military medical care and the lagging economy, will likely push the true long-term cost of the war over the $4 trillion mark.

"This may be more of a crisis than the Medicare and Social Security problems we have looming," said House Veterans Affairs Chairman Bob Filner, D-Calif. "It rivals both in the potential impact. This is another entitlement we've committed ourselves to, and it could break the bank."

http://www.stripes.com/blogs/stripes-central/stripes-central-1.8040/study-wars-could-cost-4-trillion-to-6-trillion-1.120054

[msongs]

1. gotta sell the s chools to corporations to make up the losses nt

[DirkGently]

2. Wars are the cost that just keeps on costing.

[depakid]

3. Yep

His previous estimates were to the tune of 3 trillion.

[indepat]

4. A trillion here, a trillion there, pretty soon you are talking real money

:crazy:

[miyazaki]

5. Could cost? Already cost, and more.

[chill_wind]

6. K & R

http://www.costofwar.com

NB: On August 31, 2010, the Obama administration declared that combat operations in Iraq had ended. Nevertheless, NPP's Cost of War counter for Iraq continues as we track both military and non-military costs associated with the U.S. presence in Iraq, including reconstruction. Approximately 50,000 U.S. troops remain in Iraq and there are associated incremental costs. NPP's Cost of War counter for Iraq currently tallies the money for FY2010 which has already been allocated. We expect the counter to continue into FY2011 as the Department of Defense has already requested an additional $51.1 billion for Iraq.




The Trade-Offs:

http://www.nationalpriorities.org/tradeoffs?location_type=1&state=6&program=708&tradeoff_item_item=999&submit_tradeoffs=Get+Trade+Off