The Nation: The Iraq War as a Financial Sinkhole

[marmar]

The Iraq War as a Financial Sinkhole
posted by Tom Engelhardt on 09/29/2008 @ 09:21am




Let's start with the money the Bush administration has already thrown at the war in Iraq. According to the June congressional testimony of William Beach, director of the Center for Data Analysis, the war has cost $646 billion so far. The new defense budget for 2009 tacks on another $68.6 billion for Iraq and Afghanistan in the coming year. However, military expert Bill Hartung of the New America Foundation puts a conservative estimate of the costs of a single week of the Iraq War at approximately $3.5 billion (or about $180 billion a year).

In other words, the war in Iraq will cost far more in the next year than the Iraq portion of that $68.6 billion Congress is about to pony up in the defense budget, and so will be funded, as has long been true, through supplemental war bills submitted by the Bush administration (and then whatever administration follows). In other words, sometime in 2009 the direct costs of the war the Bush administration once predicted would cost perhaps $50-60 billion in total will stand at more than $800 billion, or $100 billion above the cost (if all goes well, which it won't) of the bailout of the financial system now being proposed in Washington.

Estimates of the true long-term costs of the President's war of choice, including payments of health care and veterans benefits into the distant future, soar into the budgetary stratosphere. They range from the Congressional Budget Office's $1-2 trillion to an estimate by economists Joseph Stiglitz and Linda J. Bilmes of up to $4-5 trillion. So we're talking somewhere between one-and-a-half and seven bailouts-worth of taxpayer dollars flowing into the morass of disaster, corruption, and carnage in Iraq.

And here's another curious bit of information: Just the other day, the website ThinkProgress pointed out a strange glitch in Iraq planning. The Bush administration, deep into negotiations with the Iraqi government, evidently managed to wheedle an extra year's time for the prospective withdrawal of American combat troops from Iraq; its negotiators pushed the date from 2010 -- the year suggested by both Barack Obama and Iraqi Prime Minister Nouri al-Maliki -- to 2011. According to Maliki in an interview with an Iraqi TV station, this change came from the administration's concern over the "domestic situation" in the U.S. (that is, the needs of the McCain campaign). ......(more)

The complete piece is at: http://www.thenation.com/blogs/notion/365803/

[Kolesar]

1. As we withdraw from Iraq, we could probably deactivate the two new units that were created

(battalions or divisions (?)). We could quit "spending" on ammunition and fuel.

In my dreams, we could delete some of these overly-technical weapons systems like supersonic attack fighters or whatever it is we are building. That spy satellite budget could be cut by tens of billions/year. Missile defense should be funded at only a "research" level.

What website tracks the worst weapons systems?