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Iraq's Toll Spirals Into Trillions

Posted Mar 10, 08 9:44 AM CDT in US 

(Newser) – In 2002 Donald Rumsfeld envisioned an Iraq war price tag of "something under $50 billion," but a Harvard professor and a Nobel-prize winning economist now pin the total cost at $3 trillion, with a "running cost" of $12.5 billion a month. As the Iraq war enters its sixth year next week, the Christian Science Monitor takes a look at the varying estimates.

Other experts say the $3 trillion figure is grossly inflated. But, even without factoring in "macro" costs like the rising price of oil and a high medical inflation rate for veteran care, conservative estimates figure Iraq will cost at least $1 trillion. However, concedes the Monitor, all projections are still just that.

Sources Christian Science Monitor, Associated Press

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Nobel Laureate Joseph Stiglitz, delivers a keynote address in this file photo.   (Associated Press)
U.S. Army soldiers salute to Gen. David Petraeus, Commanding General of the Multi-National Forces in Iraq, as he arrives for an opening ceremony for a USO (United Service Oraganization) facility at the...   (Associated Press)
A new book by Linda Bilmes and Joseph Stiglitz suggests that the Iraq war will cost $3 trillion.   (Shutterstock)
The war may cost from $1 trillion to $3 trillion, depending on what factors are included in the estimates.   (Shutterstock)
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Iraq war  • oil price  • veterans  • Donald Rumsfeld  • Iraq war spending  • war cost  • Joseph Stiglitz


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