Bush: Attack by Iraq 'would cripple' economy
WASHINGTON (CNN) -- The White House is downplaying published reports of an estimated $50 billion to $60 billion price tag for a war with Iraq, saying it is "impossible" to estimate the cost at this time.
White House Office of Management and Budget Director Mitch Daniels told The New York Times in an interview published Tuesday that such a conflict could cost $50 billion to $60 billion -- the price tag of the 1991 Persian Gulf War.
In September, Daniels disputed an estimate by Bush economic adviser Larry Lindsey -- who has since left the White House -- that war with Iraq could cost $200 billion.
Daniels said he believes Lindsey's estimate was "the upper end of a hypothetical," Duffy said
Larry Lindsey was later fired for that estimate...
Senate sends Bush $94.5B for Iraq, Katrina
The 98-1 vote on the compromise House-Senate legislation gave much-needed funds to support U.S. troops overseas. Most of the money — $66 billion — goes to the Pentagon for military operations overseas.
The bill would bring to almost $320 billion the tally for the campaign in Iraq and $89 billion for the one in Afghanistan.
Only Sen. Arlen Specter (news, bio, voting record), R-Pa., voted against the bill. He is opposed to a provision endorsing Bush's $873 billion "cap" on the annual appropriations bills that Congress passes each year. Specter is pushing for $7 billion in additional money for education and health programs.
Still, there is increasing concern in Congress about the cost of the war in Iraq and the fact that the spending is kept on a set of loosely policed books that are kept separate from the rest of government operations.
"This bill continues the charade that this war should be funded off budget instead on including the money our troops need in the regular budget that's requested by the president and sent to us," said Patty Murray, D-Wash., as debate closed Thursday.
$320 billion? and still counting.... Looks like Larry was a little low, not high...
by the way that money is borrowed and not even reported in our budget deficit...