WASHINGTON (MarketWatch) -- The wars in Iraq and Afghanistan could cost the U.S. economy $1.6 trillion through 2009, about double the amount directly requested by the Bush administration so far, according to a report released Tuesday by Democrats on the House-Senate Joint Economic Committee. The report includes costs not included in the administration's funding requests, including the interest on money borrowed to finance the war, an estimate of the impact on oil markets, and costs tied to treating the wounded and disabled and other related costs. http://www.marketwatch.com/news/sto...x?guid={7A493DBF-174B-4AC9-AF03-CDAF02BD5638}
If they say 'about double' then make that triple so $2.4trillion. The question to ask though is that a good investment to make to guarantee an oil supply to the US for say the next 20+ years? $120billion a year plus interest. If you think about it, yes it's good business. Maybe Bush will be judged to have been a disastor short term but a genius long trm Stranger things have happened.
Oil was at $10 in the late 90's even with Saddam conducting his terror on the known universe. Were free markets not working? This line of history proving him right was used once before: "I made my arguments and went down in flames. History will prove me right." -- Texas Rangers owner George W. Bush after voting against realignment and a new wild-card system during a Major League Baseball owners meeting in September 1993. Bush was the lone dissenter in a 27-1 vote. "Time will tell. We believe in our research and that the positives far outweigh the negatives." -- Milwaukee Brewers president and acting commissioner Bud Selig after owners approved the new system 14 years ago. (Five options for improving the wild-card system)