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War at Any Cost? The Total Economic Cost of the War Beyond the Federal Budget

Thursday February 28th, 2008

 


Opening Statements: Chairman Schumer's Opening Statement
  Congresswoman Maloney's Opening Statement
Witnesses: Joseph Stiglitz, Columbia University, Nobel Laureate
  Robert Hormats, Vice Chairman, Goldman Sachs (International)
  Rand Beers, President, National Security Network
  Scott Wallsten, Vice President for Research and Senior Fellow at iGrowthGlobal
Charts and Graphs The Administration Wants To spend $435 Million On Iraq Every Day, Each Year That Money Could Be Used To:
  Federal Spending on Iraq War vs. Other Priorities
  Costs Incurred and Requested for the War In Iraq (2003-2008)
  Costs Incurred and Requested for the War In Iraq (2003-2019)
  Federal Spending on Iraq Continues to Skyrocket Spending on Afghanistan Flatlines
Location: 106 Dirksen Senate Office Building
Time: 9:30 AM
Press Advisory:

WITH FIVE YEAR ANNIVERSARY OF IRAQ WAR NEARING, JOINT ECONOMIC COMMITTEE TO EXAMINE THE INCREASINGLY HIGH COSTS OF WAR

Additional Resources: Watch the Hearing
  Read The JEC Report, "War an Any Price? the Total Economic Costs of the War Beyond the Federal Budget"

Link to Vanity Fair's excerpt of Stiglitz' book "The $3 Trillion War"

Link to Democracy Now's interview of Stiglitz

Link to Times of London article by Stiglitz

Link to FDL Book Salon interview of co-author Linda Bilmes

Scholars and Rogues » Getting us out of Iraq can get us out of ...

Getting us out of Iraq can get us out of recession ... Economists Predicted That A Prolonged U.S. Presence In Iraq Could Lead To A Recession on January 23, ...
www.scholarsandrogues.com/2008/01/ 16/getting-us-out-of-iraq-can-get-us-out-of-recession/ - 162k - Cached - Similar pages

Economists Predicted Prolonged US Presence In Iraq Could Spark ...

well said gonnuts . . . of course the illegal war in Iraq has been the cause of this recession . . . and the tax cuts for the wealthy . . . the recession ...
www.huffingtonpost.com/_82917.html - 161k - Cached - Similar pages

Iraq War Funds Recession

Before the war, economists were predicting that oil prices at just $75 a barrel could potentially send the U.S. economy into a recession. ...
www.huffingtonpost.com/tag/iraq-war-funds-recession - 37k - Cached - Similar pages
More results from www.huffingtonpost.com »

Yahoo! Answers - Did the war in Iraq cause the recession ? does ...

I know its many trillions . how many people know h...
malaysia.answers.yahoo.com/ question/index?qid=20080213025804AAf6lB7 - Similar pages

An Iraq recession? - Paul Krugman - Op-Ed Columnist - New York ...

While this coming recession may not be *about* the Iraq War, I think there’s a good case that the ultimate impact was negative. ...
krugman.blogs.nytimes.com/2008/01/29/an-iraq-recession/ - 85k - Cached - Similar pages

Think Progress » FLASHBACK: Economists Predicted That A Prolonged ...

The Iraq Recession. I do hope this sticks as the label. ..... Did prolonged U.S. presence in Iraq lead us into a recession? ...
thinkprogress.org/2008/01/23/iraq-recession/ - 74k - Cached - Similar pages

BBC NEWS | Business | War with Iraq could spark recession

Any conflict with Iraq together with a spike in oil prices, could endanger the world's economic recovery and hit consumers in the pocket.
news.bbc.co.uk/1/hi/business/2240551.stm - 55k - Cached - Similar pages

Between the Bits: Trying the war in Iraq to the recession

Trying the war in Iraq to the recession. There are some thoughts that while war is usually good for the economy, the war in Iraq has been incredibly bad for ...
johnhummel.blogspot.com/2008/ 01/trying-war-in-iraq-to-recession.html - 54k - Cached - Similar pages

War News Good? Let's Create A Recession | Sweetness & Light

And behold a comparison of both Google searches and news reports for the terms “Iraq War” and “recession” via Google Trends: ...
sweetness-light.com/archive/ war-news-good-lets-create-a-recession - 31k - Cached - Similar pages

Issues and Elections

http://www.scholarsandrogues.com/2008/01/16/getting-us-out-of-iraq-can-get-us- out-of-recession/. The article links to every way in which our American life ...
community.aarp.org/n/pfx/forum.aspx?tsn=1& nav=messages&webtag=rp-issues&tid=53453 - 130k - Cached - Similar pages

Peace Action Coalition's summary of economic effects and further commentary on the Moratorium of March 19th

17 Mar 08: Zachary Coile writes in the San Francisco Chronicle: "The United States has poured more than $500 billion into Iraq, mostly for military operations. But that figure is just a small piece of the much larger bill that taxpayers will pay in the future.

"Because the money for the war is being borrowed, interest payments could add another $615 billion. A heavily depleted military will have to be rebuilt at a cost of $280 billion. Disability benefits and health care for Iraq war veterans, many of them severely injured, could add another half-trillion dollars over their lifetime. . . .

"The price tag in Iraq now is more than double the cost of the Korean War and a third more expensive than the Vietnam War, which lasted 12 years. . . .

"Only World War II was more expensive. That four-year war - in which 16 million U.S. troops were deployed on two fronts, fighting against Germany and Japan - cost about $5 trillion in inflation-adjusted dollars."