It's Only Money

How much money has the United States spent fighting the wars in Iraq, Afghanistan, and the broader war on terrorism, and how much more can we expect will be allocated over the foreseeable future?

Including all the funds Congress has voted this year, we will have spent $437 billion on Iraq, Afghanistan, and other parts of the war on terror since 2001—about $1,500 for every American. All this despite Paul Wolfowitz's promise that the war would be over quickly, the troops home soon, and that the reconstruction would be self-funding, thanks to the sale of Iraqi oil supplies. Back in 2003 the President's economic advisor, Larry Lindsay, predicted that the Iraq adventure would cost more than $100 billion. He was fired, in part, for saying it, yet he greatly underestimated the cost. Spending on Iraq alone makes up over 70 percent of the $437 billion, with Afghanistan costing another 20 percent and the rest for counter-terror operations elsewhere in the world. Another way of looking at it is that funding for Iraq, Afghanistan, and the war on terror accounts for 20 percent of all the funds the Defense Department has spent over the past five years. The Congressional Research Service estimates conservatively that we might spend another $371 billion on these operations through 2016.