Democrats say hidden costs double war price: report

Source: reuters



Democrats say hidden costs double war price: report

Tue Nov 13, 2:30 AM ET



WASHINGTON (Reuters) - A new study by congressional Democrats says "hidden costs" have driven the price of the wars in Iraq and Afghanistan to about $1.5 trillion, The Washington Post reported on Tuesday.




That figure is nearly double the $804 billion the White House has spent or requested, according to the report by the Democratic staff of Congress's Joint Economic Committee, which examines the hidden costs of the wars, the Post said.

According to the panel, the hidden costs include higher oil prices, the expense of treating wounded veterans and interest payments on money borrowed to pay for the wars, the newspaper said.

The report was expected to be presented on Capitol Hill on Tuesday.

A 21-page draft obtained by the newspaper estimates that the wars have cost the average U.S. family of four more than $20,000, the Post said......(coming out today)......



Read more: http://news.yahoo.com/s/nm/20071113/pl_nm/usa_war_costs_dc;_ylt=AhPSet3TLzYs90iywLD.b29h24cA

no end in sight either....sad

for paying up dearly not only for this family, in terms of lost wages/equity, but also for at least four other deserving families at the top of our *Co/corporatist ladder? How about a life-time annual tax deduction commensurate with the sacrifice and a tax-free early retirement? - NOT happening, me thinks!

Source: Reuters

WASHINGTON - A new study by congressional Democrats says "hidden costs" have driven the price of the wars in Iraq and Afghanistan to about $1.5 trillion, The Washington Post reported on Tuesday.

That figure is nearly double the $804 billion the White House has spent or requested, according to the report by the Democratic staff of Congress's Joint Economic Committee, which examines the hidden costs of the wars, the Post said.

According to the panel, the hidden costs include higher oil prices, the expense of treating wounded veterans and interest payments on money borrowed to pay for the wars, the newspaper said.



Read more: http://www.msnbc.msn.com/id/21766479/

seeing as we've borrowed the money from China? It seems to me that with 1.5 trillion, we could have spent a lot of money to figure out a way out of our "addiction to oil". Unbelievable! 20K is more than my personal debt.

x(

every where we go. Roads & schools are crumbling, we have no money to staff the EPA or FDA with competent scientists and enforcers to keep our food, water & drugs safe... it seems everywhere we look, our quality of life in this country SUCKS, compared to where it was just 7 years ago.

Life in the U.S. under republican rule.

:kick:

This makes me wish Bill was back.

the republicans. Bill was the best republican president the democrats have ever had.

I'm not sure what the answer is anymore. It seems that anyone who actually cares about the PEOPLE of THIS country can't get elected. The corporations are the only ones protected by our laws and elected officials.

:kick:

like food, clothing and heat.

planet than those inside the beltway. WE ARE DISCONNECTED from them and we're being robbed blind. And, no, I don't have problem with taxation. I HAVE A PROBLEM WITH HOW THE MONEY IS BEING SPENT!!!

Until financial crisis destroys our economy. I really hope I'm wrong, but I don't see things getting better.

Source: MSNBC/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 Democrats on 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.



Read more: http://www.msnbc.msn.com/id/21766479/

and we are one of the lucky ones (so far)

To be effective, the masses have to hear it.

:rofl:

:sarcasm:

And who is making tons of money off these wars? Dick 'n Shrub's friends and families.

Impeachment is necessary and if the Democrats know this war is costing us all so much, why not stop it!

It won't quite be even, they still will owe their sons and daughters to finish up the fighting over there, but it will be closer.

Source: ap



Iraq, Afghan war costs are $1.6 trillion

By JEANNINE AVERSA, AP Economics Writer
16 minutes ago



WASHINGTON - 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.



Read more: http://news.yahoo.com/s/ap/20071113/ap_on_go_co/war_costs;_ylt=AiieZ7946cq52Ji1CMJ_2p2s0NUE

as a species, we should be ashamed of ourselves.

K&R

The US wars in Iraq and Afghanistan are costing nearly double the amount previously thought, according to a report set to be released by Congress.
>
The report is expected to be presented to Congress later on Tuesday.

http://news.bbc.co.uk/1/hi/world/americas/7092053.stm

Be interesting to see what, if anything , they do about it.

can the Depression be far behind?

What a waste of life, limb and resources. Think of all the children who could be fed, educated and given free health care. But, NO! We have to spend it on The Kid's ego.

Time to march.

And isn't that odd? Wars are supposed to help the economy if anything. I guess we are in a new era in many different respects. Now we can't even count on wars to grow the economy. Why is that?

Two things come to mind. China is bankrolling the whole deal and there economy is doing fine. Second, someone is making money over hear because of these wars. Companies are repairing the equipment and manufacturing the additional supplies being used over there. Oh yea, Halliburton and the administration's other friend's economies are doing fine too.

...except for the backdoor draft.

A full-scale draft would create a worker shortage that tends to raise wages, reduce unemployment and lift the country's overall productivity.

Not that I'm in favor of it, though.

I don't want to ever...EVER...hear again from some ****ing neo-con Republican that we can't afford 1) universal health care; 2) education; 3) renewable energy development; or any other progressive social/energy program...

If we can flush $1,600,000,000,000 down the Iraqi/Afghan toilet to please the Bushistas, then we can invest in the future and security of our people. :grr:

But the Iraq war is a huge waste of money and more importantly, lives.

Just wondering why you approve of the Afghanistan bandit-support project?

:shrug:

Afghanistan and Iraq wars cost $1.6 Trillion

Julian Borger
Wednesday November 14, 2007
The Guardian

The financial toll of America's wars in Afghanistan and Iraq was laid bare yesterday when a congressional committee estimated the cost of both conflicts at $1.6 trillion (£771bn) and rising - $20,000 for every family of four in the US.

The assessment, by the joint economic committee, factors in knock-on effects including long-term healthcare for the wounded, interest on money borrowed for the war chest and oil market disruptions.

Democrats, who produced the report, said it demonstrated how George Bush's foreign policy had real consequences for Americans back home. But White House spokeswoman Dana Perino said the committee had produced a report that was "an attempt to muddy the waters on what has been some positive developments being reported out of Iraq".

The report coincided with a statement from the military indicating that the surge launched by Bush in January to put a lid on sectarian violence and insurgent attacks is starting to wind down. A 3,000-strong armoured brigade has started withdrawing from Diyala province and will not be replaced, the second large unit to leave Iraq since September.

(more at link) <http://www.guardian.co.uk/international/story/0,,2210396,00.html?gusrc=rss&feed=12>