In a recent flashback, we detailed some predictions and statements made by government officials regarding the solvency of the FDIC and the US banking system. If you reviewed the prior post, you’ll note that our officials often make predictions that fail to come to fruition because they are either 1) flat out liesÂ 2) incompetent ramblings to save face.
In our latest flashback and flashforward, we present The Hidden Cost of War courtesy of Good Magazine. This goes to show that it’s not just democrats who are horrible forecasters, but republicans as well.
Flashback: On January 19, 2003, then Secretary of Defense Donald Rumsfeld joined ABC’s George Stephanopoulos to discuss the costs of the war in Iraq.
Rumsfeld: Cost in dollars or cost in lives?
Stephanopoulos: Dollars and human costs.
Rumsfeld: Well, the lesser important is the cost in dollars. Human life is a treasure. The Office of Management and Budget estimated it would be something under 50 billion dollars.
Stephanopoulos: Outside estimates say up to 300 billion.
Rumsfeld: Baloney. How much of that would be paid by the United States, how much by other countries is an open question.
Flash Forward: According to recent reports and detailed in The Hidden Cost of War video presentation below, the total cost of the war in Iraq will be roughly $3 Trillion dollars. Sometimes, to sell their product, our elected and appointed officials leave out important information that the American people may find helpful when deciding on a particular issue.
Here’s a quick SHTF forecast: If the healthcare bill is ever passed, it will cost 15 times more than the $1 Trillion estimate we are being given right now.
How do I come to this conclusion? Well, to be honest, I wrote 5 different estimates down on paper and that is the one I drew out of my pocket. After reading today’s earlier flashback and watching the video below, would it be arrogant to suggest that maybe the SHTF estimate has an equal, if not better, chance of being accurate?