ABSTRACT
The war in Iraq is lost. George Bush can do handstands, but noth ing can change the fact that the war is lost. Every penny spent on that war is lost, and every penny that will be spent is lost. If we accept David Leonhardt’s assumption (New York Times, January 17, 2007) that the cost is $1.2 trillion, that $1.2 trillion is gone with out a trace, like rainwater in a desert. That’s $200 billion a year and “includes $120 billion in annual military expenses plus the cost of veteran medical care and disability payments, the cost of rebuilding the military after the war, and the increased cost of oil as a result of the war.” If we accept the assumptions of Linda Bilmes and Joseph Stiglitz, the cost is $2 trillion. They include the forgone economic effect of spending the money in the U.S. If we take my assumptions, add the cost of reconstructing Iraq, which will come to more.
