Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

rug

(82,333 posts)
Thu Apr 4, 2013, 10:44 AM Apr 2013

Afghanistan and Iraq wars, the costliest in US history equivalent to 40% of GDP

Tuesday, April 2nd 2013- 16:39 UTC

US wars in Afghanistan and Iraq will cost taxpayers up to 6 trillion dollars or 75.000 dollars for every US household, “the most expensive wars in US history,” a new report has revealed, adding that these campaigns will dominate future federal budgets “for decades to come”.



The legacy from the George W. Bush administration: 6 trillion dollars debt.



In 2002 senior White House advisor Stephen Friedman was fired for saying the wars would cost 200 bn dollars


“The US has already spent close to 2 trillion dollars in direct outlays for expenses related to Operation Enduring Freedom (OEF), Operation Iraqi Freedom (OIF) and Operation New Dawn (OND),” said the 21-page Harvard report, titled ‘The Financial Legacy of Iraq and Afghanistan: How Wartime Spending Decisions Will Constrain Future National Security Budgets.’

“There will be no peace dividend,” is the stark conclusion from the 22-page report from the Kennedy School of Government, “and the legacy of Iraq and Afghanistan wars will be costs that persist for decades.”

To have an idea of the magnitude of the 6 trillion dollars, the US GDP is estimated at almost 15 trillion dollars, which means the costs of the war climbs to almost 40% of the country’s GDP.

The report also points out that this spending was “only a fraction” of total war costs. The “greatest expenses” which the report said were medical care and disability benefits, have yet to be paid to soldiers. In the future, an estimated 2.5 million veterans will receive state benefits.

http://en.mercopress.com/2013/04/02/afghanistan-and-iraq-wars-the-costliest-in-us-history-equivalent-to-40-of-gdp

Stop it. Now.

Latest Discussions»General Discussion»Afghanistan and Iraq wars...