NPR: Cost of Iraq War Could Be in the $1-3 Trillion Range

Cost of Iraq War Could Be in the $1-3 Trillion Range

President Bush today gave an address at the Pentagon on the 5th anniversary of the Iraq war. He argued that the war is still worth fighting despite the cost in blood and treasure. The Voice of America reports that the president says critics have exaggerated the war's costs because they can no longer argue the U.S. is losing the conflict.

CNN reports that the president said the debate over the world is understandable but he insisted that a U.S. presence in Iraq is crucial. He also asked Americans for more patience with the ongoing U.S. involvement in Iraq, calling it a fight that America "can and must win."

But Democrats disagree with almost everything the president said today, pointing out that not only is the situation far from being resolved in Iraq, but that the cost to the American taxpayer is far beyond what Bush had originally said it would be. According to the Congressional Budget Office, the cost will hit the $1 trillion mark by the end of next year. The yearly cost has doubled since the 2003 appropriation of $74 billion - which the Bush administration expected to be the total cost of the war.

The BBC reports that some economists argue that the cost of the war will be far greater.

A study by the Nobel Prize economist Joseph Stiglitz of Columbia University and Linda Bilmes, a budget expert from Harvard, concludes the cost could be at least $3 trillion. The figure is so large because, Professor Stiglitz says, it includes costs that official estimates do not, such as the cost of the lifetime medical care for 65,000 injured American personnel.

Bush administration officials call the $3 trillion cost "exaggerated."

The war is without a doubt going to play a role in the 2008 presidential election. NPR has a timeline of the three remaining presidential candidates positions on the Iraq war.

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Update: TPMCafe reports on a reconciliation conference in Iraq that was boycotted by many of the county's key Sunni and Shiite parties and politicians.

10:50 AM ET | 03-19-2008 | permalink

Comments (Send a comment)

"He also asked Americans for more patience with the ongoing U.S. involvement in Iraq"

George, my patience with you ran out a loooong time ago. $1-3 trillion spent, and 15 months of my life gone that I won't get to spend with my newlywed husband while he fights your stupid, pointless war. Thanks for a great wedding gift.

Sent by Sallie | 11:05 AM ET | 03-19-2008

CNN also reported that "7 out of 10 Americans" yes, "71 percent think Iraq spending hurts economy", and cites the same study as the BBC does.

Whereas I'd say "71 percent pull heads out of backsides, see recession"..it's kind of like Punxsutawney Phil. When
will the public completely wake up and
demand Bush and Cheney be impeached?

Sent by Marc Allen | 11:44 AM ET | 03-19-2008

Dear President Bush:

Your short sighted and unyielding compromise has brought havoc upon the world. You have dragged this great nation to its knees in both spirit and unimaginable debt. You have saddled families, who once believed, with unbearable grief for sons and daughters sacrificed. Black days are many.

Again, what was it you wanted of us?

Sent by George Gekas | 12:22 PM ET | 03-19-2008

There is light at the end of the tunnel. Bush and Cheney will be out of office soon and the next President whoever that may be will be able begin to rebuild America's honor and prestige to start the healing after a disasterous 8 years of being led by self serving puppets of the oil and military industrial complex.

Sent by Tom | 12:39 PM ET | 03-19-2008

"light at the end of the tunnel" All well and good, but lets hope it's not McCain wearing the crown. Considering his last faux pas it wouldn't surprise me if he'd have trouble remmebering his own name in 2009.

Sent by George Gekas | 12:56 PM ET | 03-19-2008

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