It's a shame to let accountants spoil the charming romance of war, but sometimes they insist. Recently the Congressional Research Service reported that our military undertakings in Iraq and Afghanistan have marked an important milestone. Together, they have cost more than a trillion dollars.
That doesn't sound like much in the age of TARP, ObamaCare, and LeBron James, but it is. Adjusted for inflation, we have spent more on Iraq and Afghanistan than on any war in our history except World War II. They have cost more in real dollars than the Korean and Vietnam wars combined.
But we can only wish we were getting off so lightly. Neither war is over, and neither is going to be soon. The House just approved $37 billion in extra funding to cover this year, and the administration wants another $159 billion for 2011. That won't be the final request.
Worse, the CRS figure is only part of the bill so far. It noted the sum doesn't include the "costs of veterans' benefits, interest on war-related debt, or assistance to allies." All of those will go on after these wars are over, which someday they may be.
Scholars Joseph Stiglitz of Columbia and Linda Bilmes of Harvard published a book in 2008 called The Three Trillion Dollar War, which gives a more realistic estimate. But that, too, is an understatement. They figure that when all long-run costs are factored in, the tab will be at least $5 trillion and could reach $7 trillion, or nearly twice as much as this year's entire federal budget.
And that was two years ago. I asked Bilmes for an update, and she said some obligations, like veterans' medical and disability compensation costs, "have exceeded our earlier projections." Do I hear $8 trillion?
Gentle Jesus on a pedal-powered three-wheeled cycle.
$8,000,000,000,000.00
That's a fucking lot of money, spent on what appear to be one pointlessly won war and one war that will never be won.
Now I know there's a school of thought that says that wars generate economic activity, but the reality of it is that ANY activity channelled through a government has a negative multiplier. A certain amount of any government budget is just wasted on shuffling income from one department to another, and doesn't find it's way back into the real economy, for example.
The "broken windows" fallacy also comes into play here, so for all the money actually spent making weapons and military kit, and paying for VA care, etc., there is an unseen pile of money that could have been spent on many other things.
And eight trillion dollars dished out directly to the citizens of the USA would probably be enough to turn the US back into a massive economic powerhouse, dwarfing China.
Eight fucking trillion dollars.
Fuck.