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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