$1-2 TRILLION

According to this post on TPM Cafe, the war in Iraq will have costs not of the $100-200 billion poopooed earlier by BushCo, but more in the neighborhood of $1 trillion, maybe as much as $2 trillion. This includes lost opportunity costs and costs associated with caring for the seriously (and in many cases permanently) wounded. Amazing.

“Shortly before the war, when Administration economist Larry Lindsey suggested that the costs might range between $100 and $200 billion, Administration spokesmen quickly distanced themselves from those numbers,” points out Professor Stiglitz. “But in retrospect, it appears that Lindsey’s numbers represented a gross underestimate of the actual costs.”