Cost of War
According to the Congressional Joint Economic Committee, the total cost of the war in Iraq, so far is $1.2 trillion and there’s no end in sight.
The Congressional Budget Office says these wars could eventually cost $2.4 trillion through the next decade. That amounts to about $8,000 for every man, woman and child in this country. This figure includes more than $700 billion in interest, since these wars are being fought on borrowed money and more than 70 percent of this money is going to the war in Iraq.
In the run-up to the war, Bush said it would cost about $50 billion. In testimony before Congress, former undersecretary of defense Paul Wolfowitz stated: “Iraq already has, on the order of $15 billion to $20 billion a year in oil exports....We are dealing with a country that can really finance its own reconstruction, and relatively soon.”
Bush has drained our treasury and indebted generations of Americans. The money could have been better spent on higher education, funding full medical coverage for all U.S. citizens and securing Social Security. The amount of money could have been used to place solar panels on every home in America, thereby bringing down the price of a barrel of oil.
Americans seem incapable of understanding that this war is ruining the financial stability of our country.
Albert Einstein’s insight may provide the answer: “But could not our situation be compared to one of a menacing epidemic? People are unable to view this situation in its true light, for their eyes are blinded by passion. General fear and anxiety create hatred and aggressiveness. The adaptation to warlike aims and activities has corrupted the mentality of man; as a result, intelligent, objective and humane thinking has hardly any effect and is even suspected and persecuted as unpatriotic.”
The Congressional Budget Office says these wars could eventually cost $2.4 trillion through the next decade. That amounts to about $8,000 for every man, woman and child in this country. This figure includes more than $700 billion in interest, since these wars are being fought on borrowed money and more than 70 percent of this money is going to the war in Iraq.
In the run-up to the war, Bush said it would cost about $50 billion. In testimony before Congress, former undersecretary of defense Paul Wolfowitz stated: “Iraq already has, on the order of $15 billion to $20 billion a year in oil exports....We are dealing with a country that can really finance its own reconstruction, and relatively soon.”
Bush has drained our treasury and indebted generations of Americans. The money could have been better spent on higher education, funding full medical coverage for all U.S. citizens and securing Social Security. The amount of money could have been used to place solar panels on every home in America, thereby bringing down the price of a barrel of oil.
Americans seem incapable of understanding that this war is ruining the financial stability of our country.
Albert Einstein’s insight may provide the answer: “But could not our situation be compared to one of a menacing epidemic? People are unable to view this situation in its true light, for their eyes are blinded by passion. General fear and anxiety create hatred and aggressiveness. The adaptation to warlike aims and activities has corrupted the mentality of man; as a result, intelligent, objective and humane thinking has hardly any effect and is even suspected and persecuted as unpatriotic.”
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