U.S. military spending on the war in Iraq has nearly matched the cost of the war in Vietnam, according to a new Congressional Research Service analysis (pdf) of the financial costs of wars throughout U.S. history. And total post-9/11 U.S. military spending has exceeded the cost of Vietnam by a considerable margin.
The ongoing war in Iraq has incurred an estimated $648 billion to date, and total post-9/11 military spending including the Iraq War, Afghanistan and other terrorism-related military expenditures has reached $859 billion, the CRS reported.
The Vietnam War (1965-1975) cost an estimated $686 billion in 2008 dollars, the CRS said.
The total cost of the American Revolution (1775-1783) was $101 million, or about $1.8 billion in 2008 dollars.
The cost of World War II (1941-1945) was about $4.1 trillion in 2008 dollars, and consumed a massive 35.8% of gross domestic product. The Iraq war represents 1% of GDP today.
These estimates include various caveats and limitations spelled out by CRS.
“All estimates are of the costs of military operations only and do not include costs of veterans benefits, interest paid for borrowing money to finance wars, or assistance to allies,” the CRS report indicated.
“Comparisons of costs of wars over a 230 year period… are inherently problematic,” the new report cautioned. See “Costs of Major U.S. Wars,” Congressional Research Service, July 24, 2008.
It takes the average person over 9 hours and costs $160 to file taxes each year. IRS Direct File meant it didn’t have to.
It’s paramount to balance both innovation capabilities and risk as we work towards ensuring that the U.S. bioeconomy is a priority area for both the Nation and for National Security.
The Federation of American Scientists supports the Senate version of the Fix Our Forests Act.
The Federation of American Scientists supports the National Security Commission on Emerging Biotechnology’s Final Report and the Recommendations contained within it.