The $2 Trillion Nightmare

Because the administration actually cut taxes as we went to war, when we were already running huge deficits, this war has, effectively, been entirely financed by deficits. The national debt has increased by some $2.5 trillion since the beginning of the war, and of this, almost $1 trillion is due directly to the war itself … By 2017, we estimate that the national debt will have increased, just because of the war, by some $2 trillion.

- Joseph Stiglitz @ New York Times: March 4, 2008: Link.

Via Cassandra @ Newsvine: Link.