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11-01-2007, 07:03 AM
The Congressional Budget Office (CBO) reports the wars in Iraq and Afghanistan are likely to cost the United States as much as $1.7 trillion over the next decade. The current estimated totals of the wars have already cost the United States $602 billion, according to the CBO.
And since the war so far has been financed with borrowed money — since 2002 the war costs and other federal expenditures have exceeded federal revenues — interest payments on that debt will add at least $415 billion, and possibly $705 billion to war costs by 2017, the CBO reported to the House Budget Committee on Oct. 24.
The cost estimates were presented during a hearing attended by most of the committee’s 21 Democrats, but just two of its 16 Republicans
For more information:
http://www.defensenews.com/story.php?F=3136611&C=america
And since the war so far has been financed with borrowed money — since 2002 the war costs and other federal expenditures have exceeded federal revenues — interest payments on that debt will add at least $415 billion, and possibly $705 billion to war costs by 2017, the CBO reported to the House Budget Committee on Oct. 24.
The cost estimates were presented during a hearing attended by most of the committee’s 21 Democrats, but just two of its 16 Republicans
For more information:
http://www.defensenews.com/story.php?F=3136611&C=america