To the Point

The Financial Cost of War

The first Gulf War cost $85 billion, with 80 percent picked up by other countries. The Iraq War and the occupation will soon add up to twice that much, with no help from the rest of the world, and many more soldiers are going to be needed much longer than the Bush administration first claimed. Are the rising costs forcing trade-offs with other government spending? What-s the impact on the deficit, the balance of trade, and the economy? Warren Olney speaks with economists specializing in defense spending and economic policy, and an activist who has spent over twenty years researching government spending and policy. Making News: US and Britain Present UN Resolution on Iraq At the United Nations today, the US and Britain unveiled their much-awaited resolution on transferring power to a new government in Iraq. British Ambassador to the UN Emyr Jones Parry said the resolution affirmed a return of "all sovereignty" to the Iraqis, with a multinational force that would serve as a consulting partner. Colum Lynch, who covers the UN for the Washington Post, says that the resolution raises as many questions as it answers. Reporter's Notebook: Wedding Party or Terrorist Camp? There is videotape circulating today which purports to demonstrate that American forces struck a wedding party last week in western Iraq, but General Mark Kimmitt continues to insist otherwise. -Bad people have parties, too.- says the spokesman for US forces in Iraq. Alissa Rubin, who is covering the story for the Los Angeles Times, reports on the Iraqi video, the American attack on the group, and the controversy surrounding it all.