Inside Story - Iraq War Cost

Inside Story - Iraq War Cost -The $3 Trillion War?

Joseph Stiglitz claims the war in Iraq has seriously
weakened the US economy.

A new book claims the war in Iraq will cost the United States at least three trillion dollars.

That's enough, the authors argue, to eradicate illiteracy worldwide and solve global poverty.

Written by Nobel prizewinning economist Joseph Stiglitz and Harvard professor Linda Bilmes, the book claims the war has seriously weakened the US economy and will have repercussions for many years to come.

The Pentagon disputes the figure. It states the war cost some $406 billion up to the end of 2007.

Although last year the Congressional Budget Office estimated the war in Iraq and Afghanistan and anti-terrorist efforts abroad could cost a total of $2.4 trillion over the next ten years, with 70 per cent of that relating to Iraq.

What is the true picture? And what are the long-term implications?

Inside Story, with presenter Sami Zeidan, investigates with a panel.