We’re In the Longest Continuous Period of War In U.S. History
Time reported yesterday:
A truer measure of the wars’ total costs pegs them at between $4 trillion and $6 trillion. This fuller accounting includes “long-term medical care and disability compensation for service members, veterans and families, military replenishment and social and economic costs,” Harvard economist Linda Bilmes calculated in 2013.
Bilmes, in her 2013 study, said the conflicts in Afghanistan and Iraq have been “the most expensive wars in U.S. history.” That, of course, was before the U.S. entered its third Iraq war in August, and before the U.S. decided to keep troops in Afghanistan through 2016.
We’ve previously noted:
Nobel prize winning economist Joseph Stiglitz estimated in 2008 that the Iraq war could cost America up to $5 trillion dollars. A study by Brown University’s Watson Institute for International Studies says the Iraq war costs could exceed $6 trillion, when interest payments to the banks are taken into account.
Indeed, we’re in the longest continuous period of war in American history.
Sadly, war is HORRIBLE for our economy.