Iraq and Your Wallet. $6300 a Second

By Meteor Blades

I'm only a sometimes fan of Nicholas Kristof, and like many of his columns, today's number is a partial winner. It's behind the NYT firewall:

For every additional second we stay in Iraq, we taxpayers will end up paying an additional $6,300.

So aside from the rising body counts and all the other good reasons to adopt a timetable for withdrawal from Iraq, here's another: We are spending vast sums there that would be better spent rescuing the American health care system, developing alternative forms of energy and making a serious effort to reduce global poverty.

In the run-up to the Iraq war, Donald Rumsfeld estimated that the overall cost would be under $50 billion. Paul Wolfowitz argued that Iraq could use its oil to "finance its own reconstruction."

But now several careful studies have attempted to tote up various costs, and they suggest that the tab will be more than $1 trillion -- perhaps more than $2 trillion. The higher sum would amount to $6,600 per American man, woman and child.

{snip}

Just to put that $2 trillion in perspective, it is four times the additional cost needed to provide health insurance for all uninsured Americans for the next decade. It is 1,600 times Mr. Bush's financing for his vaunted hydrogen energy project.

Kristof notes that there are other hidden costs not included in that per capita figure:

* $600,000 to $5 million over the lifetime of the 3,000 U.S. Iraq War veterans (so far) with severe head injuries

* Disability payments for the next 50 years for an unknown - but large - number of Iraq War veterans

* Re-enlistment bonuses, some as high as $150,000

* Replacing armor, aircraft, et cetera

* Interest costs of the war being paid for by borrowing from China, et al., estimated at $264 billion to $308 billion

* Higher oil costs, possibly a half-trillion-dollar drag on the economy

The bottom line is that not only have we squandered 2,800 American lives and considerable American prestige in Iraq, but we're also paying $18,000 per household to do so. ...

We're spending $380,000 for every extra minute we stay in Iraq, and we can find better ways to spend that money.

Unsurprisingly, not every agrees with all the underlying assumptions that go into those numbers. You can read The Economic Costs of the Iraq War, the oft-cited study put together 10 months ago by Joseph Stiglitz and Linda Bilmes, which Kristof references. And you can adjust the assumptions on your own at this site.

Looking at the cost of this concocted war solely in terms dollars and American blood, as Kristof does, misses one obvious factor: the cost to Iraqis, who have been displaced, maimed and killed, and had their economy crunched for probably two decades into the future.

As George McGovern and William R. Polk cogently argue in the October issue of Harper's (subscription only), a withdrawal of troops (to be completed at the end of 2007) would not only save American lives but tens of billions of dollars. A hefty chunk of that savings, they say, should be spent on compensating those Iraqis who were tortured or lost family in the war, rebuilding the public health system, de-mining and cleaning up depleted uranium from artillery shells, and rebuilding pieces of the infrastructure using Iraqi contractors. They suggest this might be done for $17.25 billion. That sounds a tad light. I'd call it double that. But what they propose is the right thing to do. Which is something the Bush Regime hasn't managed in Iraq since it dropped the first bomb 43 months ago.

Comments

[Jayson Harsin]

Yes, this is criminally disgusting, especially in light of the doublespeak after Hurricane Katrina and "freedom" for people the world over. Unfortunately, freedom and security will not be extended to the entire American citizenry, at least not while this cynical regime is in power.

[Jodi]

Yes, even the staunchest Republicans are being drained mentally by this war. Too many deaths. Too many wounded.
The costs too are mountng up horribly.
THE WAR LIKE THE BATTERY, IT JUST KEEPS GOING ON AND THEY ARE BECOMING STRONGER.

Still according to Bush habits, and tenets, IT MUST BE TIME FOR A TAX CUT?

[prostratedragon]

This ran in Sunday's NYTimes (Business p.3 below fold):
An Early Calculation of Iraq’s Cost of War by Anna Bernasek.

The economic cost has been less visible [than the cost in lives, per Lancet study, e.g.]. Published information on the subject is very limited, although one economist, Colin Rowat, has made some preliminary calculations using the best sources available. Professor Rowat, a specialist on the Iraqi economy at the University of Birmingham in Britain, relied mainly on data from the International Monetary Fund to estimate the war’s overall effect on the Iraqi economy. His calculations are a work in progress, but what he has found so far is sobering: the cost amounts to a cut of at least 40 percent in Iraq’s national income.

[pdaly]

If and when a democratic congress convenes, it should threaten to nationalize the oil industry. Yes, nationalize the oil industry, collect megaprofits to pay off the war debt.

This would be temporary of course!, only while we are at war... Democrats will remind everyone, including oil companies (who are experiencing record profits)that while at war there should be a lot of sacrifice to make us safer.

Unconstitutional issues aside, nationalizing the oil industry has a nice anti-settled law ring to it. Neocons for a change would have to DEFEND the constitution to prevent this plan.

Nationalize the oil industry! Perhaps a large chunk of the profits also could go to the universities and high schools in this country so that our children will get the educations needed to snag well-paying jobs that can be well-taxed to pay the costs of their parents' and grandparents' war.

[jayson harsin]

For some reason, someone posted a comment above under my name and blog. I'm not sure what's behind that. Not that I disagree with the spirit of the post.
Jayson

[Paul Lyon]

``Unconstitutional issues aside, nationalizing the oil industry has a nice anti-settled law ring to it.''

I'm for it, but the Youngstown Sheet and Tube decision is again it, and I don't think this would survive the first federal district judge it hit.

[jayson harsin]

STOP POSTING UNDER MY NAME AND WEBSITE.
Jayson Harsin

[jayson harsin]

STOP POSTING UNDER MY NAME AND WEBSITE.
Jayson Harsin