Thursday, March 20, 2008

White House Smears Nobel Economist

clipped from

White House Smears Nobel Economist: ‘Lacks Courage’ For Ignoring ‘Cost Of Failure’ In Iraq

stiglitz333.gifIn a new book titled The Three Trillion Dollar War, Nobel Prize-winning economist Joseph Stiglitz and Linda Bilmes argue that President Bush massively understated the cost of the Iraq and Afghanistan wars. Combined with interest on debt, future borrowing, cost of continued military presence, and veterans health care, they estimate a potential cost of up to $5 to $7 trillion.


Unwilling to accept what Stiglitz calls a “very conservative” $3 trillion projection, the White House is smearing Stiglitz — President Clinton’s top economic adviser — saying he “lacks courage“:

In recent interviews, Stiglitz said Bush’s war accounting practices “are so shoddy that they would land any public firm before the Securities and Exchange Commission for engaging in deceptive practices.” “We had to use the Freedom of Information Act to uncover things that we never would have known,” he said.

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Before someone chides me or anyone about "the cost of failure," I'd like to see honest numbers on, first, "the price of success," and an achievable definition of "victory."

Otherwise, I shall be cynical and presume that "the cost of failure" is likely to involve wholesale prosecutions, widespread asset forfeiture (hey, they set the precedent!) and extraordinary renditions to The Hague.

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