Monday, March 03, 2008

Nobel-Prize-winning economist Joseph Stiglitz has been in the news stating the Iraq war will eventually cost us well north of $3 trillion, with him recently saying it will be closer to $5 trillion. This figure is about a third of the size of our entire economy!

The White House responded sarcastically:
"People like Joe Stiglitz lack the courage to consider the cost of doing nothing and the cost of failure. One can't even begin to put a price tag on the cost to this nation of the attacks of 9-11," said White House spokesman Tony Fratto, conceding that the costs of the war on terrorism are high while questioning the premise of Stiglitz's research.

"It is also an investment in the future safety and security of Americans and our vital national interests. $3 trillion? What price does Joe Stiglitz put on attacks on the homeland that have already been prevented? Or doesn't his slide rule work that way?"
Along with the many other lies in the run-up, this administration told us this war would cost less than $2 billion -- yes, just $2 billion with a "B" -- and that it would be self-financing via Iraqi oil. Hah! And yet now we get snarky sarcasm from the podium. Imagine how safe we'd be if we just invested a portion of those trillions here at home, in policies and efforts to increase security, as opposed to on a war in a country that never had terrorists (it does now!). Also, note that Fratto never denied the $3+ trillion figure as being accurate.

Our kids' kids' kids will be paying for Bush's war escapades.

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