American Firms and Leaders have Bet the Farm on War
In its run-up to the Invasion of Iraq in 2003, the DOD and the Bush Administration predicted that their shooting war would only cost between $50 billion to $60 billion war. In short, the American Congress and People were undersold that war by at lease 20 times. Likewise, Obama--supposedly a peace-oriented president (when elected) maintained most of the older wars he had inherited and added a few more over his eight-year-term in office. We will be paying for these current wars well into the next millennia.
In short, the American Congress and America People were obviously under-sold one war but how many other wars have cost us similarly but secret level os increasing national deficit??? This stealthily done by manipulating and hiding real costs and expenditures decade after decade. It is all part of the DC Gunbelt Level of Group think that has obviously dominated America's wars since 1945.
This misleading of Americans is also very typical of American Generals appointed by Trump to serve him in government. It is also, of course, typical of our executive branch as well as even the congressional branches when it comes to formulating policies and ranking costs. This all leads to running up an ever more likely $20 Trillion Dollar Deficit over and within the past 2 to 3 decades.
Likewise, Barack Obama--supposedly a peace-oriented presidential candidate (when elected) simply maintained most of the older wars he had inherited--and slowly added a few more over his eight-year-term in office. These include wars again in Iraq, a war in Yemen, a Civil war situation in Libya, and a constant of tension between Pakistan and its neighbors.
Likewise, Saudi Arabia and other countries can only keep the badly planned and under-developed USA economy in shape by buying our weapons and sending us cheap oil. We will be paying for these current wars well into the next millennia.
Simply put, barring a nuclear holocaust,, we will be paying for these current wars well into the next century or even the millennia.
How many more wars do you believe Trump and Mr. Exxon have planned for us over the next few years if they can't get other peoples or nation states to behave their way?
It is currently very likely that Trumps Group-Thinkers will keep his spendaholic ex-Generals, Social Budget Cutters, and crazy War-Hawks in his cabinet during the next 4 years. These war-profiteers are simply running up deficits that our great-great-great-great-grand children will never be able to pay off. Until we make a serious war on this insanity a main part of the plan to retake our government, we will continue in the Quicksand that has been built in and around our nation--at tax-payer expenses.
In 2010 Stiglitz had : "In calculating our $3 trillion estimate two years ago, we blamed the war for a $5-per-barrel oil price increase. We now believe that a more realistic (if still conservative) estimate of the war's impact on prices works out to at least $10 per barrel. That would add at least $250 billion in direct costs to our original assessment of the war's price tag. But the cost of this increase doesn't stop there: Higher oil prices had a devastating effect on the economy." So, by 2010 Stigliz was fairly sure that the Iraq Invasion had increased USA deficit by at least 4 trillion in not 5 trillion dollars.
IT'S OIL BUT ITS NOT ALL ABOUT OIL
Sure, oil is cheap now but within 10 years the population growth of the planet will increase, SO soon again demand for energy will again be well above what it is now. Currently, Trump wants to build more pipelines rather than listen to the DOD's longheld advice that Climate Change is certainly a bigger issue than terrorism is currenly on our planet this 21st Century.
It is clear-- America's leadership is as backwards as possible now in 2017 in terms of tackling real cost issues and building appropriately sustainable American economics of scale. Unless renewable energy and better usage of American financial and human resources become the focus of infrasstructural development and spending, Americans will continue to have a lower quality of life than others--while obviously being unable to cooperate and get along with others whom we share this planet with.
In summary, the $4 trillion to $5 Trillion dollar war in Iraq (2003-2010) price tag that Stiglitz wrote about over a decade ago did not include the overall costs of conflicts in Yemen, in Syria, in Iraq since 2010, in Afghanistan since 2001, in the USA (building strong borders etc.) and elsewhere in the nearly 150 countries that the USA carries out military missions, training, security of forts.
We need this discusssion to form the basis of economics research to be advanced and taught in our high schools and elementary schools--or we will not grow beyond the poor logic in policy debates that we have been witnessing for 7 decades in the USA. (We turn to tertiary institutes and think tanks to do the real hard research and get back to us as soon as possible. Please get to work on this.)