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FLASHBACK: Iraq war 'caused slowdown in the US'

THE Iraq war has cost the US 50-60 times more than the Bush administration predicted and was a central cause of the sub-prime banking crisis threatening the world economy, according to Nobel Prize-winning economist Joseph Stiglitz.

The former World Bank vice-president yesterday said the war had, so far, cost the US something like $US3trillion ($3.3 trillion) compared with the $US50-$US60-billion predicted in 2003.

Professor Stiglitz told the Chatham House think tank in London that the Bush White House was currently estimating the cost of the war at about $US500 billion, but that figure massively understated things such as the medical and welfare costs of US military servicemen.

Webmaster's Commentary: 

And speaking of our men and women in uniform; many are not getting the care they desperately need and deserve because of the financial stresses on the VA and other health care outlets as an outcome of the spending on Bush's "wars without end".

Every single one of our physically or mentally injured vets should be getting precisely the same level of care that Dick Cheney gets.

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Posted on Oct 02, 2008 at 08:20
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