Synopses & Reviews
America has already spent close to a trillion dollars on the wars in Iraq and Afghanistan, but there are hundreds of billions of bills still due--including staggering costs to take care of the thousands of injured veterans, providing them with disability benefits and health care. In this sobering study, Nobel Prize winner Joseph E. Stiglitz and Harvard University's Linda J. Bilmes reveal a wide range of costs that have been hidden from U.S. taxpayers and left out of the debate about our involvement in Iraq. That involvement, the authors conservatively estimate, will cost us more than $3 trillion. "Stiglitz and Bilmes have clearly demonstrated the need for Congress and the administration to ensure that those making sacrifices today will see those sacrifices honored in the future."--Dave W. Gorman, executive director, Disabled American Veterans
Apart from its tragic human toll, the Iraq War will be staggeringly expensive in financial terms. This sobering study casts a spotlight on expenses that have been hidden from the U.S. taxpayer and measures what this money would have produced if it had been invested in the economy.
"This is a catalog [of costs] the Bush team never looked at. It's a catalog that they still don't want you to see."--James Galbraith
The true cost of the Iraq War is $3 trillion'"and counting'"rather than the $50 billion projected by the White House.
About the Author
Linda J. Bilmes, of Harvard University's Kennedy School of Government, is an expert in government finance. She is a former assistant secretary and chief financial officer of the U.S. Department of Commerce.Winner of the 2001 Nobel Memorial Prize for Economics, Joseph E. Stiglitz is the best-selling author of Making Globalization Work; Globalization and Its Discontents; and, with Linda Bilmes, The Three Trillion Dollar War. He was chairman of President Clinton's Council of Economic Advisers and served as senior vice president and chief economist at the World Bank. He teaches at Columbia University and lives in New York City.