A report released today estimates that the cost of the US-led wars in Iraq and Afghanistan is double what the Bush Administration has directly requested. The Joint Economic Committee’s majority staff report, War at Any Price? The Total Economic Costs of the War Beyond the Federal Budget, includes “hidden” costs such as the drain on economic growth as a result of war-related borrowing, the disruption of oil markets, the future care of injured soldiers and repair costs for the military. The report projects the total costs of the wars to amount to $3.5 trillion between 2003 and 2017, $1 trillion higher than the Congressional Budget Office forecast.
So far, President Bush has asked for $607 billion for the Iraq War, 10 times higher than what the administration estimated before launching its “shock and awe” campaign.