Economists say cost of war could top $2 trillion
WASHINGTON -- The cost of the Iraq war could top $2 trillion after factoring in long-term healthcare for wounded US veterans, rebuilding a worn-down military, and accounting for other unforeseen bills and economic losses, according to a new analysis to be presented today in Boston.The estimate by Columbia University economist Joseph E. Stiglitz and Harvard lecturer Linda Bilmes far exceeds projections made by the Bush administration. The figure is more than four times what the war was expected to cost through 2006 -- around $500 billion, according to congressional budget data. The new study is billed as a detailed analysis not only of the potential costs of sustaining the operation in Iraq for at least several more years, but also the expenses likely to be incurred by taxpayers long after US troops withdraw.
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