Posts Tagged ‘Iraq’

The True Cost of the Iraqi War Could Reach $6 TRILLION

Posted By Levi

March 19th, 2013 6:11pm

Category: Middle East

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At the start of the Iraqi War 10 years ago, the Bush Administration said that the cost of the war should be between $50-60 Billion. Ten years later, we have spent $1.6 TRILLION. And it doesn’t end there. According to a new report from the Brown University’s Watson Institute for International Studies, the true cost of the war could reach $6 trillion. The United States did not have the money to pay for the war so we had to borrow it. By the time we pay back the borrowed money in 2053, the accumulated interest will be $4 trillion. In addition, medical and disability claims of U.S. war veterans of Iraq have reached $84 billion; ongoing care for wounded Iraq war vets and their families is expected to require nearly $500 billion more over the next several decades. Mother Jones dramatize these numbers in the graph below. FollowShare Share this:EmailTweetShare on TumblrPrintMoreLike this:Like Loading... Read More

The End of the American War in Iraq

Posted By Levi

December 15th, 2011 7:47pm

Category: Middle East

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Today marks the end of the U.S war in Iraq. After 10 years a national disaster is finally coming to an end. What a terrible waste of American blood and treasure. Amost 4500 American lives lost and over 32,000 wounded not to mention the tens of thousands of Iraqis who lost their lives to this senseless war. The following chart from the Congressional Budget Office gives us an idea of the colossal waste of money. But the final cost of the war for the American people in the long run will be much, much higher. According to the Wall Street Journal, the overall cost will be around $4 trillion in the years to come. “The direct costs for the war were about $800 billion, but the indirect costs, the costs you can’t easily see, that payoff will outlast you and me,” said Lawrence Korb, a senior fellow at American Progress. Those costs include interest payments on the billions borrowed to fund the war; the cost of maintaining military bases in Kuwait, Qatar and Bahrain to defend Iraq Read More