November 13, 2007
81% of 1.6 trillion spent on iraq
Costs of Iraq, Afghan wars total $1.6T - Yahoo! NewsThe economic costs of the wars in Iraq and Afghanistan are estimated to total $1.6 trillion — roughly double the amount the White House has requested thus far, according to a new report by Democrats on Congress' Joint Economic Committee.
ADVERTISEMENTThe report, released Tuesday, attempted to put a price tag on the two conflicts, including "hidden" costs such as interest payments on the money borrowed to pay for the wars, lost investment, the expense of long-term health care for injured veterans and the cost of oil market disruptions.
The $1.6 trillion figure, for the period from 2002 to 2008, translates into a cost of $20,900 for a family of four, the report said. The Bush administration has requested $804 billion for the Iraq and Afghanistan wars combined, the report stated.
For the Iraq war only, total economic costs were estimated at $1.3 trillion for the period from 2002 to 2008. That would cost a family of four $16,500, the report said.
interesting that 81% was spent on Iraq...
Posted by TY at November 13, 2007 9:42 AM
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