It is important today to remember the Iraq war. Nicholas D. Kristoff points out today in his column that he war is costing $5000 a second. $5000 a second, and it would be one thing if we actually had the money, but we are borrowing it.
Here is the end of the column.
Moreover, the Bush administration has financed this war in a way that undermines our national security — by borrowing. Forty percent of the increased debt will be held by China and other foreign countries.
“This is the first major war in American history where all the additional cost was paid for by borrowing,” Mr. Hormats notes. If the war backers believe that the Iraq war is so essential, then they should be willing to pay for it partly with taxes rather than charging it.
One way or another, now or later, we’ll have to pay the bill. Professor Stiglitz calculates that the eventual total cost of the war will be about $3 trillion. For a family of five like mine, that amounts to a bill of almost $50,000.
I don’t feel that I’m getting my money’s worth.
And that, does not include the loss of lives, and the destruction of families and peace of mind. Prayers today and every day for ease and awareness of the cost on every side.