Larry Lindsey takes down people who say that liberating Iraq will be expensive.
"It now seems that the cost of deposing Saddam Hussein and re-establishing civil government in Iraq will be in that range. Critics are using words like "massive" and "staggering" to describe the cost. But what we really should ask is: Compared with what? We cannot walk away. If we have no choice but to fight, it makes sense to spend what it takes to win. While any dollar amount in the billions is substantial, it's important to put it into perspective. The Vietnam War cost 12% of GDP at the time and World War II cost 130% of GDP....But what does that really mean? Each year American households spend about 1% of their income on alcoholic beverages and another 1% on tobacco products. We spend about 0.7% of our money on cosmetic products. In other words, our combined operations to combat terror in the Middle East cost a bit more than we spend on makeup and shampoo and a bit less than we spend on booze or tobacco."
I don't know about y'alls, but to me, a stable Iraq is worth some smokes, some eyeliner, and light beer. (Unfortunately, I loathe all three already. Especially the light beer.) Via Balloon Juice.
Posted by Thief at September 24, 2003 04:48 PM