Thursday, October 25, 2007

So much for a $1 trillion price tag for the Iraq/Afghanistan wars:
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.

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.
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.

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