London — US economist Joseph Stiglitz has said that US President George Bush was ‘wrong’ in estimating the total money which would be spent on Iraq war, and that it (Iraq war) could cost the US two trillion dollars. According to him, this amount could have run America’s health care system for years or wipe out poverty in Somalia. Nobel Prize winner Stiglitz said that factors such as ongoing medical care for troops and reconstruction in Iraq ‘had not been addressed’ while calculating the total money that would be spent on the war. The Columbia University professor said every severely brain damaged soldier costs four million dollars. ‘For this group alone there will be a cost of 35billion dollars,’ The Mirror quoted the 63-year old professor as saying. The US had hoped Iraqi oil revenues would help it ‘break even’, as the Gulf War of 1991 almost made a profit for America, said the report.

Read the Full Article