Wednesday, October 24, 2007

How would you have spent your $8,000?

By Edward Copeland

$8,000: that's the total it is estimated each man, woman and child in the U.S. has "paid" for the debacle in Iraq, according to new figures reported today in USA Today:

The cost of the wars in Iraq and Afghanistan could total $2.4 trillion through the next decade, or nearly $8,000 per man, woman and child in the country, according to a Congressional Budget Office estimate scheduled for release today.

A previous CBO estimate put the wars' costs at more than $1.6 trillion. This one adds $705 billion in interest, taking into account that the conflicts are being funded with borrowed money.

More startling and discouraging numbers from the estimates from the Congressional Budget Office:

The CBO estimates assume that 75,000 troops will remain in both countries through 2017, including roughly 50,000 in Iraq. That is a "very speculative" projection, though it's not entirely unreasonable, said Loren Thompson, a defense analyst at the non-partisan Lexington Institute. As of Sept. 30, the two wars have cost $604 billion, the CBO says. Adjusted for inflation, that is higher than the costs of the Korea and Vietnam conflicts, according to the Washington-based Center for Strategic and Budgetary Assessments.

For those who have forgotten, prior to the Iraq invasion, the Idiot-in-Chief estimated the cost for toppling Saddam would be only $50 billion.

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  • My $8000?

    Well, there's this really cool underwater HD camera and housing I've been eyeing, for just under that amount...

    By Blogger Carl, at 4:06 PM  

  • How much is that in Canadian dollars?

    By Blogger Michael J.W. Stickings, at 4:34 PM  

  • Well over $8,000, methinks.

    But here's an idea for all you Americans. How about paying off your national debt? How about not mortgaging your future? How about not borrowing from China to pay for the excesses of today?

    By Blogger Michael J.W. Stickings, at 4:36 PM  

  • If only paying off our debt was in our control... Of course, we haven't been out of debt since the Benjamin Harrison administration.

    By Blogger Edward Copeland, at 4:46 PM  

  • MJ,

    $8000 US is about, ummmm...$7300 C

    By Blogger Carl, at 5:07 PM  

  • Cuz, you know, the Loonie passed us about ten days ago...

    By Blogger Carl, at 5:07 PM  

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