The final price tag of the wars in Iraq and Afghanistan could reach $6 trillion, 50 percent more than the whole federal government spends in a year, with biggest piece to be paid in the future as aging veterans consume health care, according to a new report.
The staggering costs of the two wars will also boost the debt payments made by Uncle Sam and influence how future federal budgets are calculated, said the report from the authoritative Center for Strategic and International Studies.
“As a consequence of these wartime spending choices, the United States will face constraints in funding investments in personnel and diplomacy, research and development and new military initiatives,” wrote expert Anthony H. Cordesman in “The FY2016 Defense Budget and US Strategy: Key Trends and Data Points.”
He added: “The legacy of decisions taken during the Iraq and Afghanistan wars will dominate future federal budgets for decades to come.”
His 141-page report is a powerhouse analysis of the defense and federal budget, but it is the massive cost of the two wars that jumped out on first reading. CSIS also provided a detailed executive summary.
Using his calculations with others, Cordesman put the cost of the ongoing conflicts at $4-$6 trillion. He estimated that $3.37 trillion has already been spent.
The report said that future expenses will come in providing healthcare to veterans, modernizing and replenishing the Pentagon, and aid to friendly countries involved in the wars including Pakistan, Iraq and Afghanistan.
Paul Bedard, the Washington Examiner’s “Washington Secrets” columnist, can be contacted at [email protected].
