2006/01/15

Iraq - From $200 Billion to $1 Trillion Plus

$200 Billion - Former presidential economic advisor Larry Lindsey's 2003 estimate of the cost of the Iraq War, a position that was labeled "a gross over-estimation," by the White House.

$357 Billion - The amount appropriated thus far by Congress to finance ongoing military and reconstruction operations in Iraq.

$500 Billion - The amount that the Congressional Budget Office estimates will be the total cost of the war over the next decade using their "mid-range" scenario.

$1.2 Trillion - That's $1,200,000,000,000, the total economic impact of the Iraq War, as estimated in a new paper by economists Joseph Stiglitz and Linda Bilmes.

Uhhh...this is going up like my contractor's estimate to do a new ceiling for my basement. Could we get a second opinion here? Maybe put this out for competitive bid?


Thanks to Orwell's Grave for digging this out of the noise.

6 Comments:

good post...Best of Blogs did it too...scary ..very scary...

thanks for what you wrote over on watergatesummer...I am taking a break and weighing everything out....( taking a break means NO news, No cspan, and no newspapers...but I am still reading the blogs...)
The administration's original estimate was $70 billion, which is why Lindsey's $200 billion estimate led to his being referred to as the "former" economic advisor. ;-)

One math major has calculated the overrun to be 2,857 percent. Your ceiling contractor can't be that incompetent.
Yup, it's official. Our grandchildren's grandchildren are in hock up to our stars and strips thanks to the W, Rove and Co.
Your ceiling contractor can't be that incompetent.

Ah, but you forget that I live in Babylon by the Bay, where everybody is renovating and nobody knows how. It's contractor's paradise.
When they were saying the War was going to be paid out of the Iraqi ground I turned to my brother and said, "500 billion." He nodded. "At least." 1.2 trillion, huh? Damn, off by 700 billion!
1.2 trillion, huh? Damn, off by 700 billion!

I never would have thought that it would be that high. I mean...f**k...that's a sizable portion of the national debt. Hell through 1/2 of my life, it would have been the national debt!

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