Iraq, Afghan war costs total $1.6T


WASHINGTON (AP) — The 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.

The 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.

Future economic costs would be even greater. The report estimated that
both wars would cost $3.5 trillion between 2003 and 2017. Under that
scenario, it would cost a family of four $46,400, the report said.

- - -

Nice bailout for the military-industrial complex.