Matt Yglesias

15 Responses to “The Cost of War”

1. Don Williams Says:
   October 2nd, 2008 at 2:18 pm

   So this financial disaster is just a crafty ploy by George W Bush to divert voters attention away from Iraq?

2. Don Williams Says:
   October 2nd, 2008 at 2:26 pm

   Like I mentioned a few days ago, George Bush seems to have left the US economy highly vulnerable to a strike by Al Qaeda.

   A significant attack at this point would probably knock the Dow down 1500 points. We can’t maintain a global empire without the military and we can’t maintain the military if we can’t pay them.

   How is that recovery work on New Orleans going, by the way?

3. kafka Says:
   October 2nd, 2008 at 2:27 pm

   Iraq war will pale in comparison to the following: Stimulus Package $150 billion, Bear Stearns $30 billion, AIG $85 billion, Fannie Mae $100 billion, Freddie Mac $100 billion, Paulson Master Bailout $700 billion.

   This totals 1165 billion. Some of these are estimates. Some claim the $700 billion bailout will “pay for itself”. Just like the Iraq

4. Don Williams Says:
   October 2nd, 2008 at 3:11 pm

   Yeah, but that’s only $1.2 Trillion.

   Link Matthew cited says Iraq will end up costing us around $3.5 Trillion as cost of caring for crippled veterans, interest etc add up over the next 10 years.

   There are huge costs Bush is dumping onto the next President that aren’t even being mentioned in the news media.

   As i’ve noted before , the $1.5 Trillion financial bailout adds up to almost $2 Trillion when you throw in the $500 Billion we will have to pay in additional interest over the next 5 years.

5. Don Williams Says:
   October 2nd, 2008 at 3:22 pm

   By the way, kafka , the Stimulus package just increased another $125 Billion (at least). Although the whoring NY Times says Bernanke is just “pumping in liquidity”, I think
   we all know who Bernanke is pumping — and it ain’t Miss Liquidity.

   The Fed’s H.3 release for Sept 10 had indicated that the Fed had loaned out $169 Billion to banks.

   But the Sept 25 H3 release shows a huge increase in loans to banks — a leap upward to $268 Billion !!

   See http://www.federalreserve.gov/releases/h3/Current/

   I saw a news item that Barney Frank talked with Bernanke last week and expressed anxiety that the Fed only had $80 Billion of our money left to throw away.

   Bernanke assured Frank that the figure was more like $800 Billion. That’s a lot of cordwood.

6. Ross Says:
   October 2nd, 2008 at 8:46 pm

   Chalmers Johnson’s been saying it loudly and clearly since publishing Blowback roughly a decade ago: the military industrial complex is killing the U.S. by drowning it in debt (to grossly paraphrase). In an interview, he quotes someone from Nixon’s (?) administration: “what cannot go on, won’t”. Spending more on defense and its ancillary costs than all other countries combined can’t go on and it won’t. Bush’s war of choice may well prove to be the proverbial camel’s back-breaking straw.

7. Bran DJ Says:
   October 2nd, 2008 at 9:09 pm

   The numbers are truly terrifying when you can quantify them like this video does. I also did one based off of numbers from AFSC: http://www.afsc.org/Iraq/ht/display/ContentDetails/i/19245 and Stiglitz and Blimes’ study. A little bleaker than the GOOD one by Matt Owens, though.

   It’s here:http://www.youtube.com/watch?v=K8y6zEc8×5w

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