Iraq, Afghan War Costs Are $1.6 Trillion

From the Associated Press:

Iraq, Afghan War Costs Are $1.6 Trillion

Nov 13 10:17 AM US/Eastern

By JEANNINE AVERSA

AP Economics Writer

WASHINGTON (AP) - The economic costs of the wars in Iraq and Afghanistan are estimated to total $1.6 trillion—roughly double the amount the White House has requested thus far, according to a new report by Congress' Joint Economic Committee.

The report, obtained by The Associated Press and scheduled to be released Tuesday, attempted to put a price tag on the two conflicts, including "hidden" costs such as interest payments on the money borrowed to pay for the wars, lost investment, the expense of long- term health care for injured veterans and the cost of oil market disruptions.

The $1.6 trillion figure, for the period from 2002 to 2008, translates into a cost of $20,900 for a family of four, the report said. The Bush administration has requested $804 billion for the Iraq and Afghanistan wars combined, the report stated.

For the Iraq war only, total economic costs were estimated at $1.3 trillion for the period from 2002 to 2008. That would cost a family of four $16,500, the report said.

Future economic costs would be even greater. The report estimated that both wars would cost $3.5 trillion between 2003 and 2017. Under that scenario, it would cost a family of four $46,400, the report said.

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1 Trillion

My comments:

Whenever a person buys something they usually do so because they feel that they are getting something worth the amount of money they are spending. So my question is simple, exactly what are we getting for $1 Trillion dollars?