War Money: From Creditor to Shitter

A new report has been released by the Joint Economic Committee which shows how much more the Iraq and Afghanistan wars cost when you take into account the total costs associated with these ventures:

The economic costs to the United States of the wars in Iraq and Afghanistan so far total approximately $1.5 trillion, according to a new study by congressional Democrats that estimates the conflicts' "hidden costs"-- including higher oil prices, the expense of treating wounded veterans and interest payments on the money borrowed to pay for the wars.

That amount is nearly double the $804 billion the White House has spent or requested to wage these wars through 2008, according to the Democratic staff of Congress's Joint Economic Committee. Its report, titled "The Hidden Costs of the Iraq War," estimates that the wars in Iraq and Afghanistan have thus far cost the average U.S. family of four more than $20,000.

Even if you want to call bullshit on this report, how can you sit there and tell me that you're ok with our shoveling out $804 billion for this shit?

Eight hundred and four billion dollars.

Still, I think the all-in cost is legitimate. Obviously, treatment for wounded veterans (you know, those troops you're support to support after they come back) needs to be factored in, as it will be an indisputable recurring cost.

As for the interest payments, let me remind you where all of this war funding is coming from: China. Well, it may not all be coming from there, but the basic fact remains the same. We're borrowing all of this money, which means that all of it (plus interest) will need to be paid back at some point. Most Americans aren't aware of this fact, as we're fairly well insulated from any necessary sacrifice for this democracy experiment. Taxes have not gone up and there's no draft. The time will come, however, because creditors don't forget. They especially don't forget when billions of dollars are on the table, regardless of the fact that those dollars may not be worth much at payment time.

All this, courtesy of Bush: Economics Supergenius.