Saturday, March 1, 2008

$ 3,000,000,000,000.00

Well, that's a lot of zeros! Three trillion (yes, trillion) dollars worth to be precise. That is a conservative estimate of the cost of the Bush administration's wars in Iraq and Afghanistan, as estimated in a new book by Nobel prize winning economist Joseph Stiglitz and Harvard University professor Linda Bilmes. It may seem a daunting task, to estimate the cost of the largest American foreign policy boondoggle ever, but as professor Stiglitz indicated, it's basically just an addition problem, so, at least the math is pretty easy, there's just a lot of it! Note that this number is conservative! Stiglitz and Bilmes estimate that a more realistic number for the full costs is in the vicinity of 5 - 7 trillion.

Let's try and get our heads around that number. For comparison, the annual gross domestic product (GDP) of the United States is in the vicinity of 13 - 14 trillion dollars. So, we're looking at a cost approaching 1/4 of the ENTIRE economic output of the country for a whole year. Put another way, that's more than $10,000 dollars for every man, woman and child in the United States. I'd call that staggering, but the "Spender in Chief," doesn't seem to get it, for Bush, the wars have apparently been a plus. When asked if he agreed with comments that the war in Iraq is hurting the economy, Bush quipped, "I don’t think so. I think, actually, the spending on the war might help with jobs." Rather ironic to hear a so-called conservative Republican plug the war as a three trillion dollar jobs program! But in Bush-land anything is possible.

Of course, the White House was none to pleased with the fully sourced and documented conclusions of these impeccably credentialed American academics. So they rolled out one of their professional obfuscators, in this case the insipid Tony Fratto, to set the record straight. According to Fratto, “People like Joe Stiglitz lack the courage to consider the cost of doing nothing and the cost of failure. One can’t even begin to put a price tag on the cost to this nation of the attacks of 9-11.” Fratto's comments are appalling in both their arrogance and contempt for the truth. "The cost of doing nothing, and the cost of failure?" Is he serious? The additional cost of doing nothing, at least in the case of Iraq, would be, well, nothing! Zip, nada, the big goose egg. Iraq had NOTHING to do with 9-11, so any cost associated with Iraq "containment" would have been as before. As for the cost of failure, that too would also be zero, since Iraq was an illegal, immoral war of choice. What we are all burdened with now is the cost of the failed policy of the president Fratto defends.

But Fratto didn't have the decency to stop there, he also had this gem, “It is also an investment in the future safety and security of Americans and our vital national interests. $3 trillion? What price does Joe Stiglitz put on attacks on the homeland that have already been prevented? Or doesn’t his slide rule work that way?” Again, Fratto wouldn't know the truth if it bit him on the backside. Our own government has stated that the war in Iraq has resulted in more instability and insecurity, not less. Investment? Remind me to never let Fratto make a stock deal for me. So, with no real facts of his own to refute Stiglitz's claims, the only thing Fratto can do is to try and impugn the reputation and patriotism of one of our most distinguished economists. I'd call that disgusting, but it's just another day in this White House. And perhaps the most Orwellian aspect of these statements is that this is from the administration that sold the war as one that would "pay for itself." All that Iraqi black gold was going to flow in, and it would only cost about 1.7 billion to patch the place back up! So, they were in the ball-park, only off by a factor of 2,000!

Well, since Fratto brought up the notion of investment, let's see exactly what 3 trillion dollars can buy:
  • ~4,000 US servicemen (and women) killed in Iraq
  • ~30,000 US servicemen (and women) wounded in Iraq
  • Upwards of 1,000,000 Iraqi deaths since the US-led invasion
  • 3 - 5 million Iraqi refugees; either having fled the country or internally displaced
  • Much of Iraq physically devastated
  • Abu Ghraib, Guantanamo Bay, Extraordinary Rendition, Waterboarding, etc, etc.
  • Stature and Standing of US in the world demolished
Well, you get the picture, and it isn't a pretty one, is it? What if we were to stay in Iraq for, say, 100 years, as presumptive Republican presidential nominee John McCain has suggested might be necessary to achieve "victory" in Iraq? Those costs would make 3 trillion dollars look like walking around money. When such statements are made, and the staggering costs considered, one has to wonder, who among us of right mind could even consider handing four more years to the Republican party that brought us this President, and such a calamity.

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