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   The Cost of the Iraq War Put in Perspective

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The Cost of the Iraq War Put in Perspective

The Iraq war, according to Yale University economist William D. Nordhaus, approaches the $191 billion inflation-adjusted cost of World War I.
Lee Hamilton, director of the Woodrow Wilson International Center for Scholars and a former Democratic member of the House, pointed out the following during a broadcast of ABC's "The Note":

"To put it in perspective, Bush hopes to spend more in Iraq and Afghanistan than all 50 states say they need--$78 billion--to finance the budget shortfalls they anticipate for 2004....p> "The request is higher than the $74 billion the Defense Department plans to spend on all new weapons purchases next year, and higher than the $29.5 billion the Education Department hopes to spend on elementary and secondary education plus the $41.3 billion the administration plans to spend to defend the homeland....

"With $166 billion spent or requested, Bush's war spending in 2003 and 2004 already exceeds the inflation-adjusted costs of the Revolutionary War, the War of 1812, the Mexican War, the Civil War, the Spanish American War and the Persian Gulf War combined, according to a study by Yale University economist William D. Nordhaus. The Iraq war approaches the $191 billion inflation-adjusted cost of World War I."


Thanks to NYU history professor Marilyn B. Young, Director, International Center for Advanced Studies (which is conducting the Project on the Cold War as Global Conflict), for bringing this quote to the public's attention.


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This story was published on September 19, 2003.
  
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