2 votes

Is a U.S. Default Inevitable?

As President Bush prepared to invade Iraq in September 2002, the head of his economic policy council, Lawrence Lindsey publicly estimated such a war could cost $100 billion to $200 billion.

Lindsey had committed candor, and the stunned Bushites came down on him with both feet.

“Baloney,” said Donald Rumsfeld. The likely cost would be $60 billion, said Mitch Daniels of the Office of Management and Budget. We can finance the war with Iraqi oil, said Paul Wolfowitz.

By year’s end, Lindsey was gone, back, in Ronald Reagan’s phrase, “testing the magic of the marketplace.”

And the cost of the Iraq War? It has passed $1 trillion.

http://rp12.us/aIUbU

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

War-Cost $4-Trills

thanks for posting. The default is inevitable if the debt-ceiling is not raised, or they can print and pay anyway.
The costs of 10 year wars is around $-4-trillions, i.e. Afghanistan, Iraq & the GWOT, global war on terror. Instead of protecting the american way of life the govt is ruining it, e.g. TSA, wire-taps, arrest without warrants, secret data for prosecutors, torture, tasers, etc. The sy$tem is paranoid because it is guilty of oppression, fraud, tyranny, lies & corruption, - is fabricating false reasons to continue wars, and instilling fear in the populace. Most of the times they get away with it, but now awareness is increasing, 911 is being questioned on many forums.

Wow $4 trillion

Wow $4 trillion

Follow me on Twitter for breaking news from a libertarian perspective

www.twitter.com/AbolishTheFed

Yes $4-Tr,

yes, $4-Tr. - it amazes you, surely it is a lot, while the govt & parties debates about spending cuts, and how to balance the budget. Now I must look for the references and post it here, - I saw it this week in two places. I hope I still have it in the browser's history, Google search is not that easy.

EDIT - yes, i did google search, found many articles,-
Study: US Wars Cost $4 Trillion, Killed 258,000
http://news.antiwar.com/2011/06/29/study-us-wars-cost-4-tril...
How much will our wars cost? Report says $4 trillion
http://news.yahoo.com/blogs/lookout/much-wars-cost-report-sa...