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Iraq War: A cool cost of US$720 million - a day!

The figures are truly staggering and frightening on many levels. The Washington Post reports:

"The money spent on one day of the Iraq war could buy homes for almost 6,500 families or health care for 423,529 children, or could outfit 1.27 million homes with renewable electricity, according to the American Friends Service Committee, which displayed those statistics on large banners in cities nationwide Thursday and Friday.

The war is costing $720 million a day or $500,000 a minute, according to the group's analysis of the work of Nobel Prize-winning economist Joseph E. Stiglitz and Harvard public finance lecturer Linda J. Bilmes.

The estimates made by the group, which opposes the conflict, include not only the immediate costs of war but also ongoing factors such as long-term health care for veterans, interest on debt and replacement of military hardware.

"The wounded are coming home, and many of them have severe brain and spinal injuries, which will require round-the-clock care for the rest of their lives," said Michael McConnell, Great Lakes regional director of the AFSC, a peace group affiliated with the Quaker church.

The $720 million figure breaks down into $280 million a day from Iraq war supplementary funding bills passed by Congress, plus $440 million daily in incurred, but unpaid, long-term costs."

Bear in mind that these figures relate to the US only. Add the cost of other nations as part of the Coalition of the Willing, like the UK and Australia, to the mix plus Iraq itself - and the "cost" is truly mind-boggling. And then there is the human "cost".........

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