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Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: PROLIFE who wrote (19003)	4/3/2008 10:00:24 AM
From: DuckTapeSunroof	Respond to of 25737

The five-year-old war in Iraq has now cost us $600 billion by the Pentagon's own conservative estimate, and will cost $3 trillion by Nobel-winning economist Joseph Stiglitz's more comprehensive estimate. Consider this: $3 trillion is enough to buy all of the U.S.'s oil consumption (21 million barrels per day) at a retail price of $100/bbl for four years. But that's actually double-counting, because the DoD is the world's largest single consumer of oil, by far. Without the war, we'd be burning a lot less oil. So in reality, the cost of the war might cover all of the U.S.'s oil consumption for the last five years or more. And yet it has not only failed to buy us energy security, it has actually made the situation worse, by driving up the cost of everything, draining our economic lifeblood, and ultimately funding those who oppose us. As the adage goes, inflation is the cruelest tax, because it hurts the poor and middle-classes the most. What's worse, between inflation and the direct war costs, they're paying for this misbegotten adventure twice. In turn, the increasing costs of living will make it more difficult for them to service their debts, particularly their mortgages, which will further undermine the economy....