The rising cost of increasing your insecurity

Submitted by Fang-Face on Wed, 01/18/2006 - 14:51

There was an article about the likely financial costs of the illegal invasion and occupation of Iraq posted to For those who belief that only the corporate press can be a valid source of "information", War's Stunning Price Tag,
by Linda Bilmes and Joseph Stiglitz
, was originally published in the Los Angeles Times. The authors wrote, in part:

Last week, at the annual meeting of the American Economic Assn., we presented a new estimate for the likely cost of the war in Iraq. We suggested that the final bill will be much higher than previously reckoned - between $1 trillion and $2 trillion, depending primarily on how much longer our troops stay. Putting that into perspective, the highest-grossing movie of all time, "Titanic," earned $1.8 billion worldwide - about half the cost the U.S. incurs in Iraq every week.

Like the iceberg that hit the Titanic, the full costs of the war are still largely hidden below the surface. Our calculations include not just the money for combat operations but also the costs the government will have to pay for years to come. These include lifetime healthcare and disability benefits for returning veterans and special round-the-clock medical attention for many of the 16,300 Americans who already have been seriously wounded. We also count the increased cost of replacing military hardware because the war is using up equipment at three to five times the peacetime rate. In addition, the military must pay large reenlistment bonuses and offer higher benefits to reenlist reluctant soldiers. On top of this, because we finance the war by borrowing more money (mostly from abroad), there is a rising interest cost on the extra debt.

Has anybody stopped to ask themselves just how the U.S. is supposed to recoup the cost of this "investment"?