http://www.nzherald.co.nz/section/story.cfm?c_id=2&ObjectID=10363167Estimated Iraq war cost - US$1.8 trillion more than previous evaluation
WASHINGTON - The Iraq war could cost America US$2 trillion ($2.91 trillion), far above pre-conflict estimates, when lifetime healthcare for thousands of wounded US soldiers is included, a study says.
Columbia University economist Joseph Stiglitz and Harvard's Linda Blimes included costs for the 16,000 wounded US troops, about 20 per cent of whom suffer brain or spine injuries.
"Even taking a conservative approach, we have been surprised at how large
are," said the authors. "We can state, with some degree of confidence, that they exceed a trillion dollars."
The projection of a total cost of $2 trillion assumes United States troops stay in Iraq until 2010 but with steadily declining numbers each year.
Before the invasion, then-White House budget director Mitch Daniels predicted Iraq would be "an affordable endeavour" and rejected an estimate by economist Lawrence Lindsey of total war costs at $100 billion to $200 billion as "very, very high".