At What Cost

Politico just leaked deets on former Press Secretery Scott McClellan’s new tell-all book:

Bush was “clearly irritated, … steamed,” when McClellan informed him that chief economic adviser Larry Lindsey had told The Wall Street Journal that a possible war in Iraq could cost from $100 billion to $200 billion: “‘It’s unacceptable,’ Bush continued, his voice rising. ‘He shouldn’t be talking about that.’”

Mr. Lindsey was then fired because his estimate was double Bush’s estimate ($50 billion).

The cost of the Iraq war stands at $523 billion, and will reach $600 billion by the end of 2008, according to the Congressional Budget Office. It has cost $1,738 per American. It’s 1200% over-budget using Bush’s initial war-cost estimate, or 261% over-budget when using Mr. Lindsey’s.

If Bush was angry at his economic adviser for projecting a $200 billion war, imagine how steamed he’d be if the true cost was known and reported back then.

Most economists and analysts estimate that the final cost of the Iraq war will exceed $1 trillion. When accounting for externalities like the increased price of oil and long-term care for war veterans, the cost rises to an incredible $4 trillion (~30% of U.S. GDP).

Exclusive: McClellan whacks Bush, White House – Politico

Tags: george w. bush, iraq, iraq war, iraq war funding, politico, Politics, scott mcclellan