The cost of the wars in Iraq and Afghanistan could total $2.4 trillion through the next decade, or nearly $8,000 per man, woman and child in the country, according to a Congressional Budget Office estimate scheduled for release Wednesday.Yes folks, the original estimate on the cost of these wars has increased by almost 50% due to one thing: interest. The miracle of compound interest works both ways and this credit-card-seduced, consuming public should surely know the insidious nature of interest on debt. If not, our kids will surely know.
A previous CBO estimate put the wars' costs at more than $1.6 trillion. This one adds $705 billion in interest, taking into account that the conflicts are being funded with borrowed money.
Thursday, October 25, 2007
So much for a $1 trillion price tag for the Iraq/Afghanistan wars:
Posted by Grey Matter at 9:09 PM