The argument here is that in truth, without the worst-waste-of-money the funds would have been spent on some way which would have been better, but would not have been the way the speaker thinks is best: it wouldn't all have gone to eg that science program. Is that right?
Basically. The wars are largely funded through separate bills, so the deficit probably wouldn't have been incurred at all. Other similar bills that were limited largely by total debt, such as the bailout and stimulus bills, would probably have been the most different had the wars not been waged.
I think of the Iraq war as more "a waste of money" than something causing "massive numbers of people dead." The succession after Saddam was not something that was ever going to go well, which is what what actually happened should be compared to.
Noah Millman wrote:
Link (which includes additional good retrospectives) thanks to Ampersand.
This article may have more political content than is suitable for LW-- if you'd rather discuss it elsewhere, I've linked it at my blog. I've posted about it here because it's an excellent example of updating and of recognizing motivated cognition even if well after the fact.