Billo_Really said:Even though I personnally feel this is an illegal war and a violation of international law, in addition to thinking the planners and decision makers for this war should be charged as war criminals, I am completly amazed at all the chicken-hawks that argue in favor of the US aggression in Iraq without considering the toll it is taking on the US economy. The picture is gloomy and getting worse by the day. Check it out:
Casualty of War: The US Economy
By James Sterngold (The San Francisco Chronicle)
Sunday 17 July 2005
The wars in Iraq and Afghanistan have already cost taxpayers $314 billion, and the Congressional Budget Office projects additional expenses of perhaps $450 billion over the next 10 years.
That could make the combined campaigns, especially the war in Iraq, the most expensive military effort in the last 60 years, causing even some conservative experts to criticize the open-ended commitment to an elusive goal. The concern is that the soaring costs, given little weight before now, could play a growing role in U.S. strategic decisions because of the fiscal impact.
"Osama (bin Laden) doesn't have to win; he will just bleed us to death," said Michael Scheuer, a former counterterrorism official at the CIA who led the pursuit of bin Laden and recently retired after writing two books critical of the Clinton and Bush administrations. "He's well on his way to doing it."
The Center for Strategic and Budgetary Assessments, a nonpartisan Washington think tank, has estimated that the Korean War cost about $430 billion and the Vietnam War cost about $600 billion, in current dollars. According to the latest estimates, the cost of the war in Iraq could exceed $700 billion.
It only seems that $700 billions is huge for US economy. The total of US debt grows ca. $2,5 trillions annualy and now exceeds $35 trillions. Just glance over here: www.kwaves.com
Money supply grows exponentialy since the mid 1990s. Therefore, if US economy will fall into a real crisis it will be hardly due to the direct spendings on war in Iraq.