New Report on the Cost of the Wars in Iraq and Afghanistan

Published on: Author: Teresa L

There is a recently published report by the Joint Economic Committee Majority Staff, titled War at Any Price: The Total Economic Costs of the War Beyond the Federal Budget. The press release about the report, dated November 13, 2007, states:

Senate Majority Leader Harry Reid (D-NV) and House Majority Leader Steny Hoyer (D-MD) will join Joint Economic Committee (JEC) Chairman Charles E. Schumer (D-NY), and JEC Vice Chair Carolyn Maloney (D-NY) [today [and release ] a new report exposing the hidden costs of the war in Iraq. The Joint Economic Committee report investigates the costs of the war in Iraq that are not included in direct budgetary appropriations, including long term veteran’s health care, foregone investment, oil market disruptions and interest payments on borrowed war funding. The JEC estimates these costs could total in the trillions of dollars.

There were some errors in the report that were “quietly corrected”, a Republican press report noted.
Here are some of the individual charts on the costs:
The American Family Will Bear Heavy Burden to Pay for Wars in Iraq and Afghanistan
With No Change in Course, Total Costs Incurred per Family Reach Almost $50,000 by 2017
The Projected Interest Costs of Iraq War Alone are Higher than
the Cost of Children’s Health Program and Health Research and Training

Taxpayer Spending on Iraq War vs. Federal Spending on Other Priorities