This should make you feel very financially secure! NOT!
Bush wars to cost 40 times higher than original estimates; $8,000 per man, woman child in US
New estimates show Iraq, Afghanistan will cost US $2.4 trillion; White House refuses to provide estimate
The United States is spending about $8,000 per man, woman and child in the country to pursue wars in Iraq and Afghanistan, according to new estimates that show the wars will cost about $2.4 trillion over the next decade.
More than one-fourth of the money spent in Iraq and Afghanistan -- $705 billion -- will go to paying interest on the wars' costs, which are being funded with borrowed dollars, according to an estimate to be released Wednesday by the Congressional Budget Office. Iraq accounts for about 80 percent of the costs with a $1.9 trillion tab, including $564 million in interest, a House budget committee staff director told USA Today, which reported the numbers Wednesday morning.
"The number is so big, it boggles the mind," Rep. Rahm Emanuel (D-IL) told the newspaper.
The CBO previously estimated the war's costs at $1.6 trillion, which did not include interest payments or Bush's latest request for an extra $46 billion in war funding.
Since President Bush decided to invade Iraq in early 2003, the war's costs have skyrocketed as government number-crunchers continue to revise their estimates.