The Rising Cost of War
Bush Daddy Iraq War
(Desert Storm) cost $7 billion
Bush Junior Iraq War
(Operation Iraqi Freedom) cost $2.6 Trillion
The first war against Iraq (1990-1991) was cheap. The Gulf War cost was 61 billion, but in the end it cost the US only $7 billion, less than 12%. A full $54 billion was offset by contributions from members in the Coalition. Two-thirds of the $54 billion was provided by the Gulf States ($36 billion) with the remaining one-third mostly provided by Japan and Germany ($16 billion.)
It was the unforeseen long term costs (veteran health and disability) that would skyrocket.See * Depleted Uranium - An American War Crime That Has No End
Second Iraq War
2.6 Trillion Estimate
Early estimates of the current Iraq war costs by the Congressional Budget Office, a non-partisan body set up by the US Congress, the war and occupation of Iraq by 130,000 US troops would cost about $4 billion -5 billion per month, or $48 billion -60 billion per year.
Overall it was estimated then, the occupation could cost more than double the cost of the war, adding between $150 billion -300 billion compared to the $150 billion that had been appropriated by Congress.
Away From View Financing
The Bush administration chose to finance the war by off-budget emergency supplemental appropriations, rather than include Iraq spending in the budget sent to Congress.
It was only after the war began, on 25 March 2003, that President Bush asked for $75 billion extra to pay for the initial costs of the war. And it was more than six months later before the next supplemental appropriation, for another $87 billion, was made.
That has reduced the political flack over appropriations for the war - and has also meant that the war spending does not formally count as part of the budget deficit in the future.
The major problem is the Bush administration's unwillingness to face up to the need to finance any of the additional costs, whether the war in Iraq, homeland security, or most important of all the new Medicare provisions. Like a teenager who gets further in debt on a credit card, the Bush administration is racking up costs that will have to be paid in the future in higher taxes or lower government programs.
The fiscal irresponsibility
is really awesome.
That number includes military and non-military spending, such as reconstruction, but soldiers' regular pay is not included, however combat pay is included. Potential future costs, such as future medical care for soldiers and veterans wounded in the war, are not included.
It is also not clear whether the current funding will cover all military wear and tear. It also does not account for the Iraq War being deficit-financed and that taxpayers will need to make additional interest payments on the national debt due to those deficits.
The Rising Economic
Cost of the Iraq War
By 2010, war expenses might total $600 billion, according to the Congressional Budget Office. Much depends on when - and how many - US military personnel can be withdrawn from the Iraqi theater of operations.
Fighting in Iraq "is lasting longer, and is more intense, and the cost to keep troops in the theater of operations is proving to be much greater than anyone anticipated," wrote Rep. John Spratt (D) of South Carolina, ranking minority member of the House Budget Committee, in a recent Democratic report on war costs.
The final true cost of the Iraq War could be well over 2 trillion dollars after factoring in long-term health care for wounded US veterans, rebuilding a worn-down military, and accounting for other unforeseen bills and economic losses, according to a new analysis up to 10 times more than previously thought.
Read more ...
*Economists say cost of war could top $2 trillion
The Congressional Budget Office (CBO), has difficulty obtaining data on war obligations, the supplemental requests do not provide enough detail to determine how war funds were obligated, and the DoD is deficient in its financial-management systems, relies heavily on estimates versus actual costs, and provides little documentation.
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*The Cost of the Iraq War
Could Cost $2.6 Trillion
US taxpayers will be burdened with costs that linger long after US troops withdraw. Unforeseen costs include recruiting to replenish a military drained by multiple tours of duty, slower long-term US economic growth and health-care bills for treating long-term mental illness suffered by war veterans.
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*Iraq war could cost $2.6 trillion
*Iraq War Will Cost More-than-$2-Trillion
*The cost of Iraq war is out of control
*Iraq War Costs by state
*The Neocons' Nine Spectacular Mistakes
Where Your Income
Tax Dollars Really Go
Pie chart of who owns the National Debt