US News War costs could total $1.6 trillion by 2009, panel estimates

[New_U.S.]

Panel: War costs for a family of four = $20,900

WASHINGTON (CNN) -- The total economic impact of the wars in Iraq and Afghanistan is estimated at $1.6 trillion by 2009, a congressional committee said in a report released Tuesday

That is nearly double the $804 billion in direct war costs the White House requested so far from Congress, the Joint Economic Committee said.

The committee estimated $1.3 trillion in war costs by the end of 2008 for Iraq, and the remainder for Afghanistan.

The total war costs could grow to $3.5 trillion by 2017, the committee estimated.

War costs could total $1.6 trillion by 2009, panel estimates - CNN.com

The total economic impact of the wars in Iraq and Afghanistan is estimated at $1.6 trillion by 2009, a congressional committee said in a report released Tuesday.

www.cnn.com

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[PurgeandFire]

Wow, that is truly a lot. Probably not even Bill Gates could afford that...

 

[Aqua Dragon]

What the...
...
Well, the next president is in 2008, maybe we won't have to pay so much if he does something babout this

 

[Rapmaster]

Before people start wondering "what if" the money was spent on other things, I'd wonder if that money would even have existed otherwise. Governments can basically just create money out of nowhere. Just weakens the economy i.e. the US dollar

 

[seph ir oth]

Before people start wondering "what if" the money was spent on other things, I'd wonder if that money would even have existed otherwise. Governments can basically just create money out of nowhere. Just weakens the economy i.e. the US dollar

Ah, but they can't just print money like that, else the dollar would fail, and the US economy would crash. And governments usually don't want their economies to crash...

However, look on the bright side. Most the money is going towards the troops and their equipment, food, entertainment, etc. which they buy from the American economy, which helps fuel the economy, slowing down its decline (if you watch stocks, you know what I'm talking about...stupid Dow Jones...).

 

[Rapmaster]

Don't think that's happening?

 

[DDRtists]

You can't tell me the government doesn't create money when it needs it...

 

[seph ir oth]

You can't tell me the government doesn't create money when it needs it...

Not all the time DDRtist, otherwise the Canadian dollar would be worth 10x the US dollar.

 

[Sim]

Cool.

If they decided to invest that much in wars, then so be it.

Let's see what the future has to say about this though. Sometimes his opinion is... rather important

 

[seph ir oth]

Let's see what the future has to say about this though. Sometimes his opinion is... rather important

The future? I don't believe in a good future for America >.> that's why I'm investing into foreign markets (South Korea, China, random European companies). I suggest that if you are a stockholder, you start doing the same while they are cheap.

 

[dunpealx4]

holy cow! $1.6 tril. im not a greedy person, so just give me 1%, thats all i ask for.

 

[Prometheus]

We need to drop funding for the military and the space program for at least 2 years.
Bam! Watch our economy rise!

 

[JuffoWup]

I wonder when average american's education level breaks the
point where they understand what their government is doing to them.

Civil War is a good thing, clears out the bad blood and all that

 

[juty]

Wow, that is truly a lot. Probably not even Bill Gates could afford that...

He might be able to someone told me he earns 1millon dollars per minute wow

 

[TheDamien]

Gates' net worth is only around 60 billion.

 

[rax_7]

let say gate worthes 50 billion, 1.6 trillion=32 bill gates fortune.

 

[Prometheus]

Gates is 60 Billion, Around 26 2/3 Gates Fortunes.

 

[Sevion]

So..... 26.6666666666666666666666666666666666666666 Bill Gates? *Calls Bill Gates* You better start multiplying! We need 26.66666666666 of you and your fortune!

 

[Prometheus]

Actually it runs a 7 about 18 decimal places in.

 

[sqrage]

Actually it runs a 7 about 18 decimal places in.

That's just called rounding. Now back on topic.