The Guardian last week carried an interview with Joseph Stiglitz, formerly chief economist at the World Bank, who outlined the $6 trillion cost of the Iraq war.

Stiglitz gave a damning indictment of the way in which the United States government had grossly underestimated (or ‘mis-underestimated’ to use a famous 'Bushism') and obfuscated the true financial cost as part of the campaign of misinformation that led to war. Hundreds of thousands have died in the past six years and many hundred thousands more displaced.

The article lists what even one of these trillions of dollars wasted could have paid for: 'Eight million housing units, or 15 million public school teachers, or healthcare for 530 million children for a year, or scholarships to university for 43 million students. Three trillion dollars could have fixed America's social security problem for half a century.'

Here is a summary of the interview in figures:

• $16bn
  The amount the US spends on the monthly running costs of the wars in Iraq and Afghanistan - on top of regular defence spending
• $138
  The amount paid by every US household every month towards the current operating costs of the war
• $19.3bn
  The amount Halliburton has received in single-source contracts for work in Iraq
• $3 trillion
  A conservative estimate of the true cost - to America alone - of Bush's Iraq adventure. The rest of the world, including Britain, will shoulder about the same amount again
• $5bn
  Cost of 10 days' fighting in Iraq
• $1 trillion
  The interest America will have paid by 2017 on the money borrowed to finance the war.

In comparison, three per cent is the average drop in income of 13 African countries - a direct result of the rise in oil prices. This drop has more than offset the recent increase in foreign aid to Africa.

As part of a global day of action, the Stop the War Coalition, CND and the British Muslim Initiative have called a national demonstration for 15 March 2008. It is crucial that students take part in this demonstration so that we add our voice to the ongoing calls around the world for peace and justice.

Troops out of Iraq and Afghanistan
Don't attack Iran
End the siege of Gaza
15 March 2008
Assemble 12 noon, Trafalgar Square, London
www.stopwar.org.uk.

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