War in Iraq to cost half a trillion dollars.

Wow, what a collosal waste of money! Once we walk away from the war in Iraq, as some would argue we should do as soon as possible, what are we going to have gotten from this ill-conceived misadventure? Not a damn thing! Initial estimates were for a $100 to $200 Billion war, that's the war America signed up for . Iraqi oil production was said to be enough to fund reconstruction, well that didn't work out at all. Daily crude oil production in Iraq is still below the levels enjoyed during Saddam times. So in consdieration of this MASSIVE investment in "middle east security" (and boy did that ever backfire) It's unlikely that our troops are going to be coming home any time soon. Judging from some of the reports of massive perment base construction, our military knows we'll be there for at least another decade. Neverending war, a Rumsfeld wet dream!

Iraq war costs 291 billion U.S. dollars so far: report

The Iraq war has cost 291 billion U.S. dollars so far and could total half a trillion dollars even if the U.S. government pulls all troops out of Iraq by the end of 2009, The Los Angeles Times reported Friday.

The figure comes from an analysis of the nonpartisan Congressional Budget Office (CBO), amid debate in Washington over whether to set goals or timetables for U.S. troops to withdraw from Iraq, according to the report.

The CBO study estimated future war costs based on two scenarios.

The more optimistic scenario is based on the U.S. maintaining troop levels in Iraq at 140,000 through next year, but quickly dropping them thereafter and pulling out most of them by the end of 2009.

Under this schedule, the Iraq war will cost an additional 184 billion dollars for the 2007-2010 budget years.

Under a more pessimistic scenario, with a slower drawdown of troops and a continued U.S. presence of 40,000 over the long term, the Iraq war could cost 406 billion dollars over the next decade, the CBO said.

Since the war started in 2003, the actual costs have far exceeded early estimates.

Former White House economic advisor Lawrence Lindsey initially put the total costs between 100 billion and 200 billion dollars.

Source: Xinhua