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.
Offering truth beyond the mere black and white.
"Pessimism of the intellect, optimism of the will." -- Antonio Gramsci
"The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness." -- John Kenneth Galbraith
"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts." -- Bertrand Russell
Thursday, October 25, 2007
So much for a $1 trillion price tag for the Iraq/Afghanistan wars:
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