She related her dumbfounded reaction to this discovery to rally goers in Ohio whilst Joseph Stiglitz and co-author Linda Bilmes have been busily promoting their new book, “The Three Trillion Dollar War: The True Cost of the Iraq Conflict.”<\/p>\n
Nobel economics laureate, professor at Columbia University, former chief economist at the World Bank and Bill Clinton’s former economics adviser, Stiglitz shared this observation with interviewers at Bloomberg.com<\/a> and Democracy NOW!<\/a>:<\/p>\n The conflict has driven the nation’s energy costs higher by adding $5 to $10 to the price of a barrel of oil, and may enlarge the national debt by $2 trillion in the year 2017.<\/p><\/blockquote>\n Stiglitz and co-author Linda Bilmes, professor of public finance at Harvard\u2019s Kennedy School of Government, believe the actual increase since 2003<\/a> is more than $5 to $10 and offer this reason for low-balling it:<\/p>\n …because we didn\u2019t want to get in a quibble, but really a much larger fraction of the difference between $25 that it was at the time in 2003 and the $100 we face today.<\/p><\/blockquote>\n I prefer a quibble to dumbing down. Clinton is encouraging the latter.<\/p>\n","protected":false},"excerpt":{"rendered":" She related her dumbfounded reaction to this discovery to rally goers in Ohio whilst Joseph Stiglitz and co-author Linda Bilmes have been busily promoting their new book, “The Three Trillion Dollar War: The True Cost of the Iraq Conflict.” Nobel … Continue reading