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Stiglitz: war costs causing credit and housing crises.

By Ben Armbruster on February 27, 2008 at 6:14 pm

"Stiglitz: war costs causing credit and housing crises."

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Nobel laureate economist Joseph Stiglitz told London’s Chatham House today that the Iraq war has so far cost the United States $3.3 trillion, and that those costs are the “hidden cause of the current credit crunch” and housing crisis. Stiglitz added that “[t]he money being spent on the war each week would be enough to wipe out illiteracy around the world” and “[j]ust a few days’ funding would be enough to provide health insurance for US children who were not covered.”

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