Iraqi, Afghan Wars May Cost $2.4 Trillion
El_Kabong
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Iraqi, Afghan Wars May Cost $2.4 Trillion
By Ken Dilanian,USA Today
Posted: 2007-10-24 11:19:50
Filed Under: Nation News
(Oct. 24) -- The cost of the wars in Iraq and Afghanistan could total $2.4 trillion through the next decade, or nearly $8,000 per man, woman and child in the country, according to a Congressional Budget Office estimate scheduled for release today.
A previous CBO estimate put the wars' costs at more than $1.6 trillion. This one adds $705 billion in interest, taking into account that the conflicts are being funded with borrowed money.
The new estimate also includes President Bush 's request Monday for another $46 billion in war funding, said Rep. John Spratt, D-S.C., budget committee chairman, who provided the CBO's new numbers to USA TODAY.
Assuming that Iraq accounts for about 80% of that total, the Iraq war would cost $1.9 trillion, including $564 million in interest, said Thomas Kahn, Spratt's staff director. The committee holds a hearing on war costs this morning.
"The number is so big, it boggles the mind," said Rep. Rahm Emanuel , D-Ill.
Sean Kevelighan, a spokesman for the White House budget office, said, "Congress should stop playing politics with our troops by trying to artificially inflate war funding levels." He declined to provide a White House estimate.
The CBO estimates assume that 75,000 troops will remain in both countries through 2017, including roughly 50,000 in Iraq. That is a "very speculative" projection, though it's not entirely unreasonable, said Loren Thompson, a defense analyst at the non-partisan Lexington Institute.
As of Sept. 30, the two wars have cost $604 billion, the CBO says. Adjusted for inflation, that is higher than the costs of the Korea and Vietnam conflicts, according to the Washington-based Center for Strategic and Budgetary Assessments.
Defense spending during those two wars accounted for a far larger share of the American economy.
In the months before the March 2003 Iraq invasion, the Bush administration estimated the Iraq war would cost no more than $50 billion.
Copyright 2007 USA TODAY, a division of Gannett Co. Inc. All Rights Reserved.
Iraqi, Afghan Wars May Cost $2.4 Trillion
By Ken Dilanian,USA Today
Posted: 2007-10-24 11:19:50
Filed Under: Nation News
(Oct. 24) -- The cost of the wars in Iraq and Afghanistan could total $2.4 trillion through the next decade, or nearly $8,000 per man, woman and child in the country, according to a Congressional Budget Office estimate scheduled for release today.
A previous CBO estimate put the wars' costs at more than $1.6 trillion. This one adds $705 billion in interest, taking into account that the conflicts are being funded with borrowed money.
The new estimate also includes President Bush 's request Monday for another $46 billion in war funding, said Rep. John Spratt, D-S.C., budget committee chairman, who provided the CBO's new numbers to USA TODAY.
Assuming that Iraq accounts for about 80% of that total, the Iraq war would cost $1.9 trillion, including $564 million in interest, said Thomas Kahn, Spratt's staff director. The committee holds a hearing on war costs this morning.
"The number is so big, it boggles the mind," said Rep. Rahm Emanuel , D-Ill.
Sean Kevelighan, a spokesman for the White House budget office, said, "Congress should stop playing politics with our troops by trying to artificially inflate war funding levels." He declined to provide a White House estimate.
The CBO estimates assume that 75,000 troops will remain in both countries through 2017, including roughly 50,000 in Iraq. That is a "very speculative" projection, though it's not entirely unreasonable, said Loren Thompson, a defense analyst at the non-partisan Lexington Institute.
As of Sept. 30, the two wars have cost $604 billion, the CBO says. Adjusted for inflation, that is higher than the costs of the Korea and Vietnam conflicts, according to the Washington-based Center for Strategic and Budgetary Assessments.
Defense spending during those two wars accounted for a far larger share of the American economy.
In the months before the March 2003 Iraq invasion, the Bush administration estimated the Iraq war would cost no more than $50 billion.
Copyright 2007 USA TODAY, a division of Gannett Co. Inc. All Rights Reserved.
standin above the crowd
he had a voice that was strong and loud and
i swallowed his facade cos i'm so
eager to identify with
someone above the crowd
someone who seemed to feel the same
someone prepared to lead the way
he had a voice that was strong and loud and
i swallowed his facade cos i'm so
eager to identify with
someone above the crowd
someone who seemed to feel the same
someone prepared to lead the way
Post edited by Unknown User on
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Comments
this is what I find utterly ridiculous. $50 billion??? thats it?? I think universal healthcare estimates are similar. which probably would end up in the trillions as well.
not sure how this estimate can be maintained when there is a good chance the next president will withdrawal troops from Iraq.
I am SO fucking sick of seeing politicians spin EVERY criticism into an anti-troop sentiment. How is it playing politics with the troops? It's playing fucking politics with the office you represent, nothing to do with the troops at all.....grrrr
PS - good to see you here Kabong
it's about fucking time
i remeber posting an article a few years ago about the wars costsing $trillions$ before it was over... of course every armchair general in the place called me an idiot.. even though experts were saying it, not me.