Anyone remember back to January 2003, right before we invaded Iraq? Rumsfeld said the cost of this war would be under $50 billion, and that other countries would probably shoulder a lot of that financial burden.
Well, as it turns out, when Rummy said "$50 billion," he actually meant $3 trillion and counting. And when he said "other countries," he meant U.S. taxpayers.
Joseph Stieglitz, the Nobel Prize-winning economist, has estimated that the total cost of this war will be $3 trillion dollars, which he claims is a conservative estimate. And though the Bush administration has stuck to the assertion that war has only cost us $500 billion, Reuters asserts that this cost is still sapping our economy:
