Six months ago: U.S. government spending $5.4 billion each month on the two wars. I guess that financial cost of Iraq war will come to $500 billion.
Before 2003 invasion: Cost of Iraq war estimated at $50 billion, with assurances that Iraqi oil revenues would pay for much of the effort. Note missing zero.
Throughout U.S. history (and probably time immemorial): Financial cost of war consistently underestimated by a factor of ten.
Has even a single person been held accountable? Where is the clamor for a Military Planning Reform and Taxpayer Protection Act?
[…] But I’m all for gratuitous speech. Fuck the U.S. troops. And don’t forget to count small change or to understand real change. […]
[…] At a glance it looks like Bilmes and Nordhaus each are including things like debt financing costs, increased veteran’s benefits and oil prices in their estimates, accouting for the half trillion increase over other recent estimates that the direct financial cost of the war could come to $700 trillion. […]
Two years later burning $12 billion/month.
[…] will cost you not the $50 billion estimated by U.S. regime supporters, nor the $700 billion estimated by some in 2005. No, nearly $4 trillion. Not the usual 10x underestimate of financial war costs, but nearly […]