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Trainspotter

Iraq war tipped to hit $12B a month

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Iraq war tipped to hit $12B a month

The cost for the Iraq war this year will increase to about $12 billion a month, triple the "burn" rate of its earliest years, according to a new analysis.

 

Beyond 2008, working with "best-case" and "realistic-moderate" scenarios, the Iraq and Afghan wars, including U.S. military occupations of those countries, will cost the U.S. budget between $1.7 trillion and $2.7 trillion - or more - by 2017, Nobel Prize-winning economist Joseph Stiglitz and co-author Linda Bilmes report in their book.

 

Interest on money borrowed to pay those costs could alone add $816 billion to that bottom line, they say in "The Three Trillion Dollar War."

 

The nonpartisan Congressional Budget Office forecasts a cumulative cost by 2017 of $1.2 trillion to $1.7 trillion for the two wars.

 

From: nydailynews_logo.gif icon_offsite.png - March 10, 2008

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Funny thing is the money isn't "borrowed" since the goverment is spending it,and who makes the money? the goverment......

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Funny thing is the money isn't "borrowed" since the goverment is spending it,and who makes the money? the goverment......

 

Technically, a lot of the money is borrowed from large companies worldwide. Namely, Microsoft, Trump, GE, Ford, GM, Boeing, Lockheed and many more which include governments like Great Britan. The government does'nt even own Air Force One. The 2 planes are leased from Boeing. But the War does contribute to the fact that the U.S. Dollar is #4 now behind the Pound, Euro, and Canadian dollar. Austrailia and New Zealand look like they will push us to #6 real soon!

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