Costs of War on Terror Nearly $1 Trillion US Report

Nobel Prize winner economist Joseph Stiglitz with help from his assistance summed up the true costs of the war in Iraq alone to be closer to $ 4 trillion dollars that include long term compensation for wounded soldiers,thier families,medical expenscs and etc.

The United States has been waging unending wars with borrowed money. Not only there seem to be no end in sight for those wars,

but the US ability to payback its huge debts

is also quite uncertain.

In a grossly inaccurate report issued by a Congressional Research Service on the costs of global war on terror following September 11, 2001 attacks, the total expenditures incurred by the United States so far amount to $1.147 trillion.

This makes the US war on terror as the second most expensive military action in that North American country’s relatively short history. The most expensive war was the World War II, which had cost $4.1 trillion, adjusting for inflation. But the true expenses of US war on terrorism are much more than what the Congressional report claims. For one thing the war on terrorism has just begun as none of the initial aims of this war has been achieved and it is dragging on with no end in sight.

The Congressional report does not include various other expenses aside from direct costs of military operations. Earlier, the Nobel Prize winner economist Joseph Stiglitz with help from his assistance summed up the true costs of the war in Iraq alone to be closer to $ 4 trillion dollars that include long-term compensations for wounded soldiers, their families, medical expenses and etc. The war in Afghanistan costs even more, which make the total costs of US war on terror conservatively somewhere around $11 trillion dollars until now.

Tags:

Iraq

Afghanistan

World War II

Inflation

Federal Reserve