Tuesday, May 19, 2009

"The Three Trillion Dollar War" by Joseph Stiglitz and Linda Bilmes

When the United States invaded Iraq in March 2003, Americans were told Iraqi oil would cover the costs of the war and rebuilding. Defense Secretary Donald Rumsfeld scoffed at estimates of $100 billion.

Nobel Prize-winning economist Josef Stiglitz of Columbia University and Harvard University professor Linda Bilmes raised a stir in 2006 by estimating the real cost of the war to be $1 trillion. That estimate has been tripled and the title of their new book is "The Three Trillion Dollar War."

For two weeks the authors of "The Three Trillion Dollar War," fielded questions about the cost of the Iraq war and its impact on the U.S. economy. They're not taking new questions, but they're still posting answers to ones they've already received.

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