Remember the Republican promises of 2002 and 2003? Deputy Secretary of Defense Paul Wolfowitz testified before Congress that the American people would not lose any money on the proposed invasion of Iraq. The war would pay for itself, he said, because Iraq would be so grateful for its liberation that it would give the United States its oil revenues, which would more than compensate for any expense.
Republicans across America, both in and out of government, repeated Wolfowitz’s promise. That didn’t make the promise a reality, however. The American people have now lost more than a half a trillion dollars on the Iraq War, and the government of Iraq hasn’t given any money from its oil revenues back to us.
Well, the Government Accountability Office has just released a report indicating that the government of Iraq has had a budget surplus for a few years now. At the same time, the United States has a record breaking budget deficit.
That Iraqi budget surplus just keeps o...
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The Nobodies From: lewrockwell.com Post Date: 2008-09-29 13:02:11
In order to feel good about themselves, politicos who perpetuate disastrous political policies come out with the canard of the nobodies. Examples include "Nobody thought the internet bubble would burst," "Nobody predicted the Iraq War would be a disaster," and...... more
Another trivia about costs: Several sources indicate the war in Iraq has cost about $550 billion so far. Comparatively, the Marshall Plan which helped repel communism in Western Europe by bringing prosperity and stability there, cost $13 billion, which in today’s money is equivalent to anywhere between $100 and $750 billion. Applicability of such a plan in MENA today vs. post war Europe?... more
By Gareth Porter, IPS News. Posted October 7, 2008.
Mere weeks after 9/11, the Bush administration was too busy planning to invade Iraq to follow through on its mission in Afghanistan.
New evidence from former U.S. officials reveals that the George W. Bush administration failed to adopt any plan to block the retreat of Osama bin Laden and other al Qaeda leaders from Afghanistan to Pakistan in the first weeks after 9/11.
That failure was directly related to the fact that top administration offic... more
Barack Obama? I just don’t get what’s going through his head. He can’t seem to find an issue he isn’t willing to cave in on.
This week, it’s offshore drilling. During the Democratic primaries, Barack Obama said he was against lifting the ban on new drilling for oil along America’s coastlines. Now, the Democratic Party primary elections are all wrapped up, and Obama says that he’s willing to join George W. Bush again, this time to support offshore dril... more
When I saw this little sticker on a gas station pump last week, I thought it had to be a joke. Thieves are running around town cutting fuel lines on cars to nick gasoline? Oh, I believe that every once in a great while some desperate person might try to get a gallon or two. But as a trend big enough to merit an orange warning sticker? That seemed implausible: gasoline is heavy, after all, and even just a few gallons could be bulky to carry, making it kind of hard to run from Officer Bluto. ... more
The news about General Motors today is clearly a big deal: General Motors lost 15.5 billion dollars in just one quarter of the year.
The story is really about a lot more than just General Motors, of course. General Motors is failing because the vision of America that General Motors has profited from is failing.
An amount of money as big as 15.5 billion dollars is pretty difficult to understand. The other day, though, I found a small manifestation of the same dynamic that’s much more down... more
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