Tuesday, November 13, 2007

The Data Says...(War on Terror edition)

Congress' Joint Economic Committee leaks their report to the media:

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.

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.

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.

This report factors in "hidden costs" like future health care for veterans, and interest on the loans we take out to pay for the war.

You hopefully would ask: If it costs $1.6 trillion and the President has only requested $804 billion, then who is paying for this? If it ends up costing us $3.5 trillion, where will we get the money?

One of a few correct answers:

With interest, of course.

Your CHILDREN'S tax dollars at work.


TaylorW said...

I can't keep up with this vibrant consistency of posts. (everyday)

JTapp said...

Thanks for the support, Taylor!