Three Trillion Dollar War: The True Cost of the Iraq

THE THREE-TRILLION-DOLLAR WAR ITS COST IN TEN STEPS In 2003, Secretary of Defense Donald Rumsfeld estimated that a war with Iraq would cost $60 billion. Five years later, the cost of Iraq War operations is more than 10 times that figure. By the time the United States leaves Iraq, the estimated cost of war will be more than $3 trillion. OPERATIONAL COSTS 520 $ COSTS OPERATIONAL AND PEACEKEEPING COSTS The total operational cost to date is $600 billion. This includes costs for helicopters, tanks, fuel, PEACEKEEPING 590 BILLION combat pay, military training, military bases, and embassies. O 0 0 O O O BILLION 2 ADDITIONAL EXPENDITURES 5 HEALTH CARE O O OO O Add $110 billion for additional military expenditures indirectly attributed to the wars. STROOP$ INFLATION $1 3 Correct for inflation over the past five years. WITHDRAWAL O C 6 RESTORING THE MILITARY 2018 4 OPERATIONAL AND PEACEKEEPING COSTS COSTS THREE TRILLION DOLLARS 3 INFLATION Add $520 billion for operational and peacekeeping costs before and after troop withdrawal. HEALTH CARE 5 O O O O O 00 O O O O OO O O O O 0 Add $590 billion for future health care for returning veterans. INTEREST RESTORING THE MILITARY MILITARY Te HEALTH CARE Add $280 billion to restore the military to its prewar strength. 8 INTEREST CONTRACTOR NTEREST SALARIES 7 SOCIAL SECURITY WAR COSTS Add $38 billion for Social Security to veterans who can no longer work. 2.8 TRILLION INTEREST 8 10 IMPACT OPERATIONAL Add $615 billion in interest, since the war is funded primarily from borrowed money. 1 COSTS SOCIAL SECURITY MACROECONOMIC LOST ECONOMIC OUTPUT 38 2.2 $ Add $370 billion for the loss of economic output from soldiers' deaths and disability. COMBAT TRILLION PAY BILLION LOST ECONOMIC 9 OUTPUT SOCIAL SECURITY MACROECONOMIC IMPACT SOCIAL 10 00 INTEREST Add $1.9 trillion for the macroeconomic impact of 2 ADDITIONAL EXPENDITURES NTEREST both the funds diverted from schools, roads, and SECUR research and the high cost of oil during much of the war. GOOD Watch the $3 trillion war unfold in a SOURCES The Three Trillion Dollar War by Joseph E. Stiglitz and Linda J. video at www.good.is. Bilmes; War at Any Price? The Total Economic Cost of the War Beyond the Federal Budget by the Joint Economic Committee Majority Staff B SCHOOLS ROADS D RESEARC OIL INTEREST THE THREE-TRILLION-DOLLAR WAR ITS COST IN TEN STEPS In 2003, Secretary of Defense Donald Rumsfeld estimated that a war with Iraq would cost $60 billion. Five years later, the cost of Iraq War operations is more than 10 times that figure. By the time the United States leaves Iraq, the estimated cost of war will be more than $3 trillion. OPERATIONAL COSTS 520 $ COSTS OPERATIONAL AND PEACEKEEPING COSTS The total operational cost to date is $600 billion. This includes costs for helicopters, tanks, fuel, PEACEKEEPING 590 BILLION combat pay, military training, military bases, and embassies. O 0 0 O O O BILLION 2 ADDITIONAL EXPENDITURES 5 HEALTH CARE O O OO O Add $110 billion for additional military expenditures indirectly attributed to the wars. STROOP$ INFLATION $1 3 Correct for inflation over the past five years. WITHDRAWAL O C 6 RESTORING THE MILITARY 2018 4 OPERATIONAL AND PEACEKEEPING COSTS COSTS THREE TRILLION DOLLARS 3 INFLATION Add $520 billion for operational and peacekeeping costs before and after troop withdrawal. HEALTH CARE 5 O O O O O 00 O O O O OO O O O O 0 Add $590 billion for future health care for returning veterans. INTEREST RESTORING THE MILITARY MILITARY Te HEALTH CARE Add $280 billion to restore the military to its prewar strength. 8 INTEREST CONTRACTOR NTEREST SALARIES 7 SOCIAL SECURITY WAR COSTS Add $38 billion for Social Security to veterans who can no longer work. 2.8 TRILLION INTEREST 8 10 IMPACT OPERATIONAL Add $615 billion in interest, since the war is funded primarily from borrowed money. 1 COSTS SOCIAL SECURITY MACROECONOMIC LOST ECONOMIC OUTPUT 38 2.2 $ Add $370 billion for the loss of economic output from soldiers' deaths and disability. COMBAT TRILLION PAY BILLION LOST ECONOMIC 9 OUTPUT SOCIAL SECURITY MACROECONOMIC IMPACT SOCIAL 10 00 INTEREST Add $1.9 trillion for the macroeconomic impact of 2 ADDITIONAL EXPENDITURES NTEREST both the funds diverted from schools, roads, and SECUR research and the high cost of oil during much of the war. GOOD Watch the $3 trillion war unfold in a SOURCES The Three Trillion Dollar War by Joseph E. Stiglitz and Linda J. video at www.good.is. Bilmes; War at Any Price? The Total Economic Cost of the War Beyond the Federal Budget by the Joint Economic Committee Majority Staff B SCHOOLS ROADS D RESEARC OIL INTEREST THE THREE-TRILLION-DOLLAR WAR ITS COST IN TEN STEPS In 2003, Secretary of Defense Donald Rumsfeld estimated that a war with Iraq would cost $60 billion. Five years later, the cost of Iraq War operations is more than 10 times that figure. By the time the United States leaves Iraq, the estimated cost of war will be more than $3 trillion. OPERATIONAL COSTS 520 $ COSTS OPERATIONAL AND PEACEKEEPING COSTS The total operational cost to date is $600 billion. This includes costs for helicopters, tanks, fuel, PEACEKEEPING 590 BILLION combat pay, military training, military bases, and embassies. O 0 0 O O O BILLION 2 ADDITIONAL EXPENDITURES 5 HEALTH CARE O O OO O Add $110 billion for additional military expenditures indirectly attributed to the wars. STROOP$ INFLATION $1 3 Correct for inflation over the past five years. WITHDRAWAL O C 6 RESTORING THE MILITARY 2018 4 OPERATIONAL AND PEACEKEEPING COSTS COSTS THREE TRILLION DOLLARS 3 INFLATION Add $520 billion for operational and peacekeeping costs before and after troop withdrawal. HEALTH CARE 5 O O O O O 00 O O O O OO O O O O 0 Add $590 billion for future health care for returning veterans. INTEREST RESTORING THE MILITARY MILITARY Te HEALTH CARE Add $280 billion to restore the military to its prewar strength. 8 INTEREST CONTRACTOR NTEREST SALARIES 7 SOCIAL SECURITY WAR COSTS Add $38 billion for Social Security to veterans who can no longer work. 2.8 TRILLION INTEREST 8 10 IMPACT OPERATIONAL Add $615 billion in interest, since the war is funded primarily from borrowed money. 1 COSTS SOCIAL SECURITY MACROECONOMIC LOST ECONOMIC OUTPUT 38 2.2 $ Add $370 billion for the loss of economic output from soldiers' deaths and disability. COMBAT TRILLION PAY BILLION LOST ECONOMIC 9 OUTPUT SOCIAL SECURITY MACROECONOMIC IMPACT SOCIAL 10 00 INTEREST Add $1.9 trillion for the macroeconomic impact of 2 ADDITIONAL EXPENDITURES NTEREST both the funds diverted from schools, roads, and SECUR research and the high cost of oil during much of the war. GOOD Watch the $3 trillion war unfold in a SOURCES The Three Trillion Dollar War by Joseph E. Stiglitz and Linda J. video at www.good.is. Bilmes; War at Any Price? The Total Economic Cost of the War Beyond the Federal Budget by the Joint Economic Committee Majority Staff B SCHOOLS ROADS D RESEARC OIL INTEREST THE THREE-TRILLION-DOLLAR WAR ITS COST IN TEN STEPS In 2003, Secretary of Defense Donald Rumsfeld estimated that a war with Iraq would cost $60 billion. Five years later, the cost of Iraq War operations is more than 10 times that figure. By the time the United States leaves Iraq, the estimated cost of war will be more than $3 trillion. OPERATIONAL COSTS 520 $ COSTS OPERATIONAL AND PEACEKEEPING COSTS The total operational cost to date is $600 billion. This includes costs for helicopters, tanks, fuel, PEACEKEEPING 590 BILLION combat pay, military training, military bases, and embassies. O 0 0 O O O BILLION 2 ADDITIONAL EXPENDITURES 5 HEALTH CARE O O OO O Add $110 billion for additional military expenditures indirectly attributed to the wars. STROOP$ INFLATION $1 3 Correct for inflation over the past five years. WITHDRAWAL O C 6 RESTORING THE MILITARY 2018 4 OPERATIONAL AND PEACEKEEPING COSTS COSTS THREE TRILLION DOLLARS 3 INFLATION Add $520 billion for operational and peacekeeping costs before and after troop withdrawal. HEALTH CARE 5 O O O O O 00 O O O O OO O O O O 0 Add $590 billion for future health care for returning veterans. INTEREST RESTORING THE MILITARY MILITARY Te HEALTH CARE Add $280 billion to restore the military to its prewar strength. 8 INTEREST CONTRACTOR NTEREST SALARIES 7 SOCIAL SECURITY WAR COSTS Add $38 billion for Social Security to veterans who can no longer work. 2.8 TRILLION INTEREST 8 10 IMPACT OPERATIONAL Add $615 billion in interest, since the war is funded primarily from borrowed money. 1 COSTS SOCIAL SECURITY MACROECONOMIC LOST ECONOMIC OUTPUT 38 2.2 $ Add $370 billion for the loss of economic output from soldiers' deaths and disability. COMBAT TRILLION PAY BILLION LOST ECONOMIC 9 OUTPUT SOCIAL SECURITY MACROECONOMIC IMPACT SOCIAL 10 00 INTEREST Add $1.9 trillion for the macroeconomic impact of 2 ADDITIONAL EXPENDITURES NTEREST both the funds diverted from schools, roads, and SECUR research and the high cost of oil during much of the war. GOOD Watch the $3 trillion war unfold in a SOURCES The Three Trillion Dollar War by Joseph E. Stiglitz and Linda J. video at www.good.is. Bilmes; War at Any Price? The Total Economic Cost of the War Beyond the Federal Budget by the Joint Economic Committee Majority Staff B SCHOOLS ROADS D RESEARC OIL INTEREST