Iraq War: 3 Trillion Dollars

[DeadCanDance]

Nicely done, Bush.

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.

The war was now the second-most expensive in US history after World War II and the second-longest after Vietnam, he said.

The spending on Iraq was a hidden cause of the current credit crunch because the US central bank responded to the massive financial drain of the war by flooding the American economy with cheap credit…

Stiglitz added that “[t]he money being spent on the war each week would be enough to wipe out illiteracy around the world” and “[j]ust a few days’ funding would be enough to provide health insurance for US children who were not covered.”

http://www.theaustralian.news.com.au/story/0,25197,23286149-2703,00.html

 

[jreeves]

Nicely done, Bush.

This is called partisian economics....LOL

 

[M14 Shooter]

This is called partisian economics....LOL

Interesting how "cost" in the story he posted conflicts rather significantly with the "cost" noted in the icon in his signature.

So, which one is a lie?

 

[DeadCanDance]

Interesting how "cost" in the story he posted conflicts rather significantly with the "cost" noted in the icon in his signature.

So, which one is a lie?

One is the current cost, one is the projected ultimate cost.

Which would have been clear to you if you had spent 10 seconds reading the post, or if your reading comprehension skills were above 4th grade level.

 

[M14 Shooter]

One is the current cost, one is the projected ultimate cost.

Oh, I see... its a "projection", rather than an -actual- number.

IOW, its made a made-up number based on any nmuber of things that may or many not happen.

But, partisan bigots such as yourself dont see how any of -that- matters.

 

[Larkinn]

Apparently none of you read the article.

The 3 trillion is the actual current cost, because Bush's numbers don't take into account things such as medical care for US servicemen.

By the jreeves, what about it exactly is partisan? That you don't like the result and so smear it?

 

[Diuretic]

"Three trillion is a very conservative number, the true costs are likely to be much larger than that."

You blokes who are sniping there need to read the article.

And this is important:

The spending on Iraq was a hidden cause of the current credit crunch because the US central bank responded to the massive financial drain of the war by flooding the American economy with cheap credit.

 

[DeadCanDance]

This is called partisian economics....LOL

Are you comfortable spending trillions of dollars on a war that should never have been fought, while never admitting it was a mistake to invade?

 

[jreeves]

Apparently none of you read the article.

The 3 trillion is the actual current cost, because Bush's numbers don't take into account things such as medical care for US servicemen.

By the jreeves, what about it exactly is partisan? That you don't like the result and so smear it?

Does this article take into effect the number of jobs the Iraq war has created, does it take into effect the taxes that those new employees paid in federal income taxes, does it take into effect the extra taxes that the military machine in defense contractors pay.....NO to all, that's how its partisan......

 

[jreeves]

Are you comfortable spending trillions of dollars on a war that should never have been fought, while never admitting it was a mistake to invade?

What I'm not comfortable with is liberals lying their asses off.....

 

[Larkinn]

Does this article take into effect the number of jobs the Iraq war has created, does it take into effect the taxes that those new employees paid in federal income taxes, does it take into effect the extra taxes that the military machine in defense contractors pay.....NO to all, that's how its partisan......

What do any of those things have to do with how much the government spends on the war?

 

[Larkinn]

What I'm not comfortable with is liberals lying their asses off.....

Care to cite exactly what was a lie here?

Oh, except that its partisan economics. But you aren't exactly a liberal.

 

[jreeves]

What do any of those things have to do with how much the government spends on the war?

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.

I emphasize the word "Cost" not spent....they are two different things. So therefore tax revenue due to war would be relevant to the cost.....

 

[jreeves]

Care to cite exactly what was a lie here?

Oh, except that its partisan economics. But you aren't exactly a liberal.

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.

Again emphasizing the word "cost" that would be a lie....

 

[Larkinn]

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.

I emphasize the word "Cost" not spent....they are two different things. So therefore tax revenue due to war would be relevant to the cost.....

So if I buy a hybrid car and I say the cost of the car, I should factor in how much it will save me on gas?

Sorry, but the cost is how much you've spent on something.

 

[Larkinn]

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.

Again emphasizing the word "cost" that would be a lie....

LMAO....learn what the word means, son. I don't suppose RGS is going to come here and accuse you of word games. Oh right, thats because your a republican, my bad.

 

[jreeves]

LMAO....learn what the word means, son. I don't suppose RGS is going to come here and accuse you of word games. Oh right, thats because your a republican, my bad.

Cost would entail money expended as well as the obtained through revenues...there's no mention of revenues...that's my point. It's misleading to say something cost 3.3 trillion dollars when you don't take into effect the gains.

 

[Larkinn]

Cost would entail money expended as well as the obtained through revenues...there's no mention of revenues...that's my point. It's misleading to say something cost 3.3 trillion dollars when you don't take into effect the gains.

cost /kɔst, kɒst/ Pronunciation Key - Show Spelled Pronunciation[kawst, kost] Pronunciation Key - Show IPA Pronunciation noun, verb, cost or, for 10–12, cost·ed, cost·ing.
–noun
1. the price paid to acquire, produce, accomplish, or maintain anything: the high cost of a good meal.
2. an outlay or expenditure of money, time, labor, trouble, etc.: What will the cost be to me?
3. a sacrifice, loss, or penalty: to work at the cost of one's health.

 

[jreeves]

cost /kɔst, kɒst/ Pronunciation Key - Show Spelled Pronunciation[kawst, kost] Pronunciation Key - Show IPA Pronunciation noun, verb, cost or, for 10–12, cost·ed, cost·ing.
–noun
1. the price paid to acquire, produce, accomplish, or maintain anything: the high cost of a good meal.
2. an outlay or expenditure of money, time, labor, trouble, etc.: What will the cost be to me?
3. a sacrifice, loss, or penalty: to work at the cost of one's health.

an outlay or expenditure of money, time, labor, trouble, etc.: What will the cost be to me?

Uh...Duh....If I spend 10 dollars and take in 5 dollars the cost was 5 dollars...not 10 dollars....unbelievable...LOL

 

[Larkinn]

an outlay or expenditure of money, time, labor, trouble, etc.: What will the cost be to me?

Uh...Duh....If I spend 10 dollars and take in 5 dollars the cost was 5 dollars...not 10 dollars....unbelievable...LOL

*sigh*

Where does it say income or revenue recieved in the definition of cost? Nowhere. Give it up, boy.