US vs Iraq – A war waged with borrowings…costs $4.5 trillion by 2017

 

Joseph E. Stiglitz, the nobel prize winner economist in his latest book estimated along with harvard prof. Linda J. Bilmes that the government has borrowed $1 trillion — much of it from overseas lenders — to finance the war. By 2017, he said, the country will have added $2 trillion to the national debt to cover Iraq war expenses. That means additional interest payments for taxpayers…

The war which failed to find Weapons of Mass destruction as claimed by Mr. President, sapping the strength of US economy…taxpayers has already spent $607 billion to pay for the war through next september..The Joint Economic committee of both the houses of Congress estimated that the war would cost Americans between $3.5 to $4.5 trillion ny 2017..it includes disability aid and health care to war veterans..Iraq war raised oil price by $10 a barrel costing Americans $250 million a day…lose-lose war know??? The moral is Never fight a war on wrong claims…It’s not child’s play…Surprisingly India never went out and waged war against any country in its 5000 years of civilization…I recommend you all to read the book

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