Thursday, October 25, 2007

Update: Cost of wars in Iraq and Afghanistan

There haven't been many reports posted recently about the escalating costs for the war in Iraq and the oft forgotten war in Afghanistan.

A recent Reuters article spoke to many of the expected budget points, but here are some highlights:

  • The US wars in Iraq and Afghanistan could cost taxpayers a total of $2.4 trillion by 2017
  • CBO (nonpartisan Congressional Budget Office) estimated that interest costs alone from 2001-2017 could total more than $700 billion
  • So far, Congress has given Bush $604 billion for the two wars
  • In Iraq alone, the US is spending about $11 billion a month, with costs escalating
  • CBO estimated that between 2008 and 2017, the wars could cost slightly more than $1 trillion, assuming overall troop strength is cut to 75,000 by 2013.
    (Currently, there are about 196,000 U.S. troops in Iraq and Afghanistan.)

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