The war is costing $720 million a day or $500,000a minute, according to the group's analysis of the work of Nobel Prize-winning economist Joseph E. Stiglitz and Harvard public finance lecturer Linda J. Bilmes. The estimates made by the group, which opposes the conflict, include not only the immediate costs of war but also ongoing factors such as long-term health care for veterans, interest on debt and replacement of military hardware.
This is known as full-cost accounting which is what the IRS does when it says it costs 40 cents a mile to operate a typical car. This is what it is costing to run this war all piled on an already bloated national deficit that is becoming untenable. Like a sub-prime mortgage gone bust, we can't even afford the interest on the national debt. This war, which the leading Republican candidates fully support as a permanent war, coupled with Bush's fiscal insanity, has rendered our country the debtor nation of all time. We're in hock up to and including the White House.
This war, which is decimating the military, leaving tens of thousands of our youth crippled for life has already cost almost a trillion dollars. $720 million a day. What could we be doing?
The money spent on one day of the Iraq war could buy homes for almost 6,500 families or health care for 423,529 children, or could outfit 1.27 million homes with renewable electricityThat's just a start. It's a question of priorities and what safety really means. Ask yourself: would we be safer if we had not invaded and occupied Iraq for the past 4.5 years? If we had supported the UN instead of going it alone and invaded would we be spending our treasure and youth today? Perhaps O.J., Britney, and the other celeb trash would be alone in the headlines and we could be building a better country.
Reader Comments ( Page 1 of 1)
1. blah blah to you Phil and the rest of the nobel prize economists. The UN is plagued with thinkers,party poopers,protocol, red tapes but offered no immediate solutions. These members should all be sent home instead of US taxpayers paying for their offices and assistants and translators. If the US did not react, France, Germany and Russia could have just done nothing but just embraced the Islamist jihadists.. worse..the end of the empire..get it.
IRT2LTEE at 4:51PM on Sep 24th 2007
2. "The UN is plagued with thinkers,party poopers,protocol, red tapes but offered no immediate solutions."
That is because there are very few immediate solutions that will work in Iraq, in fact none or close to none.
We are in a quagmire and sinking fast, and the only way to get out of a quagmire is to wade to the shore and pull yourself out of it and even then you sometimes drown before you can do that.
Christopher at 4:21AM on Sep 26th 2007
3. I DONT CARE WHAT IT COSTS WHEN IT COMES TO OUR FREEDOMS. I DONT PUT A PRICE CEILING ON THAT.... BUT I DO HAVE A PROBLEM WITH THE HUGH COST AND HIGH TAXES I'D BE FORCED TO PAY FOR LEFT WING AGENDAS BEING PUSHED ON ALL OF US... SUCH AS THE "SOCIALIST" HEALTHCARE SYSTEM AND "GLOBAL WARMING" KEYOTO DEBACLES. TAKE A GANDER AT THOSE COSTS PEOPLE!
KERI at 3:53PM on Sep 28th 2007
4. Why is it a waste to take care of the earth? If we are out of water and clean air how do you plan to survive? The war is costing to much to get nothing in return.
Think Future at 10:29AM on Nov 12th 2007
5. RADIIO SHOW HOST MICHAEL SAVAGE HAS 38 MIL SIGNATURES PETITIONING HIM TO RUN FOR THE PRESIDENCY.
WHY SO MANY? YOU TELL ME.
THE TENNESSEE SQUIRE
KELLY BEIS at 1:56AM on Dec 17th 2007
6. OIL, THE ONLY TRUE GLOBAL CURRENCY. U.S. TREASURY NOTES, BILLS, etc.... SOON TO BE WORTHLESS DUE TO
THE COLLAPSE OF THE US DOLLAR PLANNED TO BE REPLACED IN 2010 BY THE AMERO TO BE USED AS LEGAL CURRENY BY CANADA, MEXICO AND THE USA. YOUR THOUGHTS ARE APPRECIATED.
THE TENNESSEE SQUIRE
KELLY BEIS at 2:07AM on Dec 17th 2007
7. If for protecting our freedom and our lives as Americans and the lives of our childrens and future generation I will never moan.It's better to sacrifice now than having our childrens and grandchildrens bear the prize in the future because of our negligent and respect for the United Nation fake protection.
KaM at 4:10AM on Dec 24th 2007