Wednesday, November 14, 2007

REPORT -- Cost of the Wars

As noted in the news -- the Joint Economic Committee Majority Staff has just published a report on the Cost of the Wars in Iraq and Afghanistan. They estimate it could exceed $3.5 trillion.

"November 13: Senate Majority Leader Harry Reid (D-NV) and House Majority Leader Steny Hoyer (D-MD) will join Joint Economic Committee (JEC) Chairman Charles E. Schumer (D-NY), and JEC Vice Chair Carolyn Maloney (D-NY) today released a new report exposing the hidden costs of the war in Iraq. The Joint Economic Committee report investigates the costs of the war in Iraq that are not included in direct budgetary appropriations, including long term veteran’s health care, foregone investment, oil market disruptions and interest payments on borrowed war funding. The JEC estimates these costs could total in the trillions of dollars."

Joint Economic Committee -- War at Any Price?—the Total Economic Costs of the War Beyond the Federal Budget and it is available at

The press release includes a brief summary

Individual charts are available as follows:

The response from the Joint Economic Committee Republicans can be found at

They say the report should be withdrawn -- that it is politically motivated and filled with errors and poor methodology. A second press release from them indicates that some errors were quietly corrected on the web version.

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