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Linda Bilmes

πŸ‘€ Speaker
273 total appearances

Appearances Over Time

Podcast Appearances

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The Cost of War

And Larry Lindsay, who was the Republican economic advisor at the time, started saying, you know, this could cost hundreds of billions of dollars.

Search Engine
The Cost of War

This could cost like 1% of GDP.

Search Engine
The Cost of War

And he was fired for even having that thought and expressing it.

Search Engine
The Cost of War

So there was a very deliberate effort to not discuss the cost of the war because that was going to interfere with the rush into war.

Search Engine
The Cost of War

And then one of the major issues

Search Engine
The Cost of War

that I saw at the beginning of the Iraq war was that we were paying for the war through emergency appropriations.

Search Engine
The Cost of War

Now, emergency appropriations are there for a reason.

Search Engine
The Cost of War

So, for example, if there's a hurricane or an earthquake, the objective is to get money out to people who need it very quickly.

Search Engine
The Cost of War

But 10 years into the Iraq War, we were still paying for trillions of dollars of spending as an emergency, even though we had 400 bases.

Search Engine
The Cost of War

in Iraq that we had built, and we had hundreds of thousands of troops who were there.

Search Engine
The Cost of War

So we were still pretending that this was like some very, very short-term emergency thing where we didn't really need to worry about the details.

Search Engine
The Cost of War

And that meant that we were significantly underestimating the costs.

Search Engine
The Cost of War

Yeah, and it was very convenient for the administration and for Congress to fund these wars through emergency spending, because that way they didn't have to put it into the budget for the following year.

Search Engine
The Cost of War

So they could every single year minimize the projection of what the deficit would be.

Search Engine
The Cost of War

So they could say, oh, the deficit's going down, the deficit's going down, because they weren't accounting for the fact that we were going to be spending another $150 billion or whatever in emergency spending on the war, even though

Search Engine
The Cost of War

There was no way we could not be spending that, but it made it look as if

Search Engine
The Cost of War

The deficit would be lower.

Search Engine
The Cost of War

And it also made it seem as if the end of the war could be right around the corner.

Search Engine
The Cost of War

And for quite a few years early into the Iraq War, if you look at the statements of senior officials, they were continually saying that the war was about to end, that we were about to turn a corner, the worst was behind us, and so on.

Search Engine
The Cost of War

And that kind of made it seem as if that could be real because we weren't budgeting for it for the following year.