Iraq, the mother of all budget busters

[Clara T]

Iraq, the mother of all budget busters
By David Isenberg

"If Bush had come to the American people with a request to spend several hundred billion dollars and several thousand American lives in order to bring democracy to Iraq, he would have been laughed out of court."
- noted political scientist Francis Fukuyama

It turns out the eventual cost of the war in Iraq will not be several hundred billion, but according to a new study at least a thousand billion dollars - US$1 trillion, in other words. This figure dwarfs any previous estimate by orders of magnitude.
Given the projected cost of $1 trillion to $2 trillion, one might imagine that American taxpayers are now rolling on the floor in hysterical laughter while gasping for air.

To get an idea of the economic black hole the Iraq war could become, it is useful to remember some of the past estimates given by the administration of President George W Bush. Recall, for example, when then-White House economic adviser Lawrence Lindsey suggested in 2002, six months before the war, that the mission could cost $100 billion to $200 billion, Bush fired him because his estimate was up to three times the $70 billion the administration estimated.

Conservative columnist Paul Craig Robert wrote after the latest estimate: "Americans need to ask themselves if the White House is in competent hands when a $70 billion war becomes a $2 trillion war. Bush sold his war by understating its cost by a factor of 28.57. Any financial officer anywhere in the world whose project was 2,857% over budget would instantly be fired for utter incompetence."

For the sake of comparison, consider that late last summer the Pentagon was spending $5.6 billion per month on operations in Iraq, an amount that exceeds the average cost of $5.1 billion per month (in real 2004 dollars) for US operations in Vietnam between 1964 and 1972. Currently, the Pentagon is spending about $6 billion per month in Iraq. The total direct cost of the decade-plus Vietnam War to the United States was estimated to be $600 billion. And not even three years after its start, Iraq has already cost 42% of what the Vietnam war did.

http://www.atimes.com/atimes/Middle_East/HA14Ak01.html

[Dan]

1. For Iraq freedom, no price too high.

Those that voted for Bush are quite willing to spend the 1 or 2 Trillion dollars for Iraq freedom.

Those that voted for Bush are quite willing to give up our freedoms for Iraq freedom.

Those that voted for Bush are quite willing to give up our form of government for Iraq freedom.

Those that voted for Bush are quite willing to give up the World's vision of America, for Iraq freedom.

Those that voted for Bush are quite willing to give up 'truth' for Iraq freedom.

Those that voted for Bush are quite willing to give up America for Iraq freedom.

Bush is quite willing to take that which is given and more.

Seems like those that voted and support Bush are quite willing to give up America to become Iraq.

There is no price to high, that we are not willing to pay for Iraq - and even more for our fearless leader Bush.

[f-bush]

2. No kidding

When ever some one bitches at me about not enough money for road repair or textbooks for the classroom, social cuts, law enforcement curtailment etc, I tell them it all goes back to the war. The states got their funding from the Fed's severely limited to pay for the unjust and unconstitutional war!!!

[teryang]

3. A money making operation for war profiteers - bush family base

Read Kevin Phillips - American Dysnasty- Aristocracy, Fortune, and the Politics of Deceit in the House of Bush.

They are robbing us and the Iraqis blind. They are wrecking our nations economy while lining their pockets and building a police state to defend themselves from the consequences.

[dooner]

4. so disgraceful

I'm sorry this story didn't get bumped up to the greatest page. I think the dems should be talking about what we have given up as a country for this
misadventure. Universal health care + free college educations for students + ?