WAR in Iraq/ Afghanistan to cost 2.4 Trillion

[gbsean]

U.S. CBO estimates $2.4 trillion long-term war costs -

WASHINGTON (Reuters) - The U.S. wars in Iraq and Afghanistan could cost taxpayers a total of $2.4 trillion by 2017 when counting the huge interest costs because combat is being financed with borrowed money, according to a study released on Wednesday.


With President George W. Bush indicating a large contingent of U.S. troops likely will be engaged in Iraq and Afghanistan for many years to come, the nonpartisan Congressional Budget Office estimated the total tab for the wars from 2001 through 2017.

CBO 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, with about $412 billion spent in Iraq, according to CBO, which is Congress' in-house budget analyst. In Iraq alone, the United States is spending about $11 billion a month, with costs escalating.

Bush is seeking another $196 billion for combat in Iraq and Afghanistan through September 30 and Congress is expected to debate that request over the next few months.

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 170,000 U.S. troops in Iraq and another 26,000 in Afghanistan.

Finance charges for the money already spent on the war will total $415 billion from 2001 to 2017, according to CBO. For the next decade, "interest outlays would increase by a total of $290 billion over that 10-year period," CBO told the House Budget Committee, which is reviewing long-term war costs.

"To put it all on our credit cards with no accountability, with no plan to pay for it, I think is the height of irresponsibility," said Rep. James McGovern, a Massachusetts Democrat who serves on the budget panel and is an outspoken war critic. "It will be just one more toxic legacy of this disastrous war we will have to leave our kids to clean up."

With national elections about a year away and public discontent with the Iraq war running deep, Democrats are highlighting the huge costs of the Iraq war as they seek $22 billion more than Bush wants for domestic social programs such as health care and education.

Bush has vowed to veto the added funding.

CBO estimated that of the $2.4 trillion long-term price tag for the war, about $1.9 trillion of that would be spent on Iraq.

[Gothmog]

get out your checkbooks

National Priorities Project - The Cost of War

[Zap]

10 things you need to know about the federal budget (but apparently didn't)


10 things you should know about federal budget - Tom Curry - MSNBC.com


Of course, you could always learn to love Allah.

50% cut in all govt spending (Entitlements, defense, etc)...who's with me! Yeah, that's what I thought .........

[bishir]

We'll be paying it back in Ameros.

[BLACK6PACK]

Zap,
I try to point out things in the article you linked to, but most lefties don't want to hear it. Military outlay is 3.9% of the GDP while medicare/medicade and social security are sucking up 30-50%. When will the lefties realize that SS needs to be abolished?

[ULYCYC]

That's not too bad compared to the 12 million illegal aliens costing us 3.9 trillion over the next 10 years I rather have gas then a trimmed lawn

[Orlando_87GN]

Who cares when it really is just a number.

[nero]

Originally Posted by ULYCYC

That's not too bad compared to the 12 million illegal aliens costing us 3.9 trillion over the next 10 years I rather have gas then a trimmed lawn

Oops! You're racist.

Bullshit Hate Mail. (2nd hate mail, first with pics)

[nero]

Originally Posted by Orlando_87GN

Who cares when it really is just a number.

huh

[BLACK6PACK]

Originally Posted by ULYCYC

That's not too bad compared to the 12 million illegal aliens costing us 3.9 trillion over the next 10 years I rather have gas then a trimmed lawn

I can't afford them, I have to mow my own lawn. Hell the "house cleaners" or "day maids" or whatever you want to call them, make $12-15/hr down here. Took me having a bachelors degree and 2 years experience to make $15 an hour. Course that was a few years ago.

[Gothmog]

Originally Posted by Zap

10 things you need to know about the federal budget (but apparently didn't)


10 things you should know about federal budget - Tom Curry - MSNBC.com


Of course, you could always learn to love Allah.

50% cut in all govt spending (Entitlements, defense, etc)...who's with me! Yeah, that's what I thought .........

what about the debt. Closing in on 10 trillion, and the reason why the dollar is dropping. We (the US ) is losing its wealth.
just think of the possiblities we could use the the hundreds of billions we spend every year JUST ON THE INTEREST ON THE DEBT.
Billions and Billions out the door on interest alone

[Zap]

Again, I'm for cutting expenditures 50% across the board. Who's with me!

Yeah, that's still what I thought........

[ULYCYC]

Our population has almost doubled in 50 years. load that up with liberal spending, illegal aliens and a war or two your have problems. Not one mans fault that many say. Close the borders, get rid of Pelosi and Hillary and things will get better.

[Zap]

Originally Posted by nero

Oops! You're racist.

Bullshit Hate Mail. (2nd hate mail, first with pics)

I wonder why people hate someone that exhibits so little knowledge?

[Gothmog]

Originally Posted by ULYCYC

Our population has almost doubled in 50 years. load that up with liberal spending, illegal aliens and a war or two your have problems. Not one mans fault that many say. Close the borders, get rid of Pelosi and Hillary and things will get better.

liberal spending?
did you notice who ran up the biggest debts? Reagan and Bush. I also believe that this 1 trillion dollar debt isnt part of the liberal agenda