What appears to be an art project (or is it marketing?) is critiquing the cost of the USA invading and occupying Iraq. That’s right, it will cost $3 trillion to fight for oil, er, freedom. The website linked above is a challenge to see how well you can spend the same amount of money for the world that you want. It’s obviously aimed at Americans. Take a look at my shopping cart here.
$3 TRILLION isn’t just how much the Iraq War will cost our government, it’s how much it will cost our sputtering economy. When the Bush administration launched this war, they claimed Americans would not have to make sacrifices. They even cut taxes with the help of a Republican-led Congress, rather than raising them as had been done historically in times of war. According to Nobel laureate economist Joseph Stiglitz and Harvard professor Linda Bilmes in their book The Three Trillion Dollar War, we’re fighting an unnecessary war on borrowed money. The war has caused our skyrocketing national debt. And more than anything else, the war has caused our recession.
Here’s how $3 trillion breaks down:
$526 billion — borrowed money poured into Iraq so far
$615 billion — total interest costs for taxpayers
$280 billion — to rebuild our military
$590 billion — disability benefits and health care for Iraq veterans
$1.5 trillion — estimated costs through 2017