US Congress says Bush’s wars cost $1.6 trillion


This video from the USA says about itself at YouTube:

In this March 5, 2003 broadcast, two weeks before the invasion of Iraq, Yale economist William Nordhaus was ridiculed for predicting a war with Iraq might cost as much as $750 Billion in war costs, $2 Trillion in economic costs, create $75 a barrel oil and $3 a gallon gas.

And in all this, he still didn’t count military rehab or increased domestic security costs, so even HIS estimate was low!

By Bill Van Auken:

Congressional report puts cost of US wars at $1.6 trillion

14 November 2007

The price tag for the wars being waged by the US military in Iraq and Afghanistan will hit nearly $1.6 trillion during the coming year, according to a report released Tuesday by the Democratic staff of Congress’s Joint Economic Committee.

Titled “War at any Price? The Total Economic Costs of the War Beyond the Federal Budget,” the report’s estimate amounts to nearly double the $804 billion that the Bush administration has either received or requested to finance the two wars through the 2008 fiscal year.

In addition to the hundreds of billions of dollars appropriated by Congress for the wars and occupations in Iraq and Afghanistan, the new report factors in such expenses as medical care for wounded military personnel, the war’s impact on the tripling of oil prices since the March 2003 invasion of Iraq and interest on the money that has been borrowed to finance the wars.

See also here.

September 2013: The decade-long American wars in Afghanistan and Iraq would end up costing as much as $6 trillion, the equivalent of $75,000 for every American household, calculates the prestigious Harvard University’s Kennedy School of Government: here.

How the US war in Afghanistan fueled the Taliban insurgency: here.

7 thoughts on “US Congress says Bush’s wars cost $1.6 trillion

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