by Nick Juliano
President Bush’s six-year invasion of Afghanistan and Iraq will end up costing Americans about $1.5 trillion, or nearly twice as much as the White House has actually spent to fight its wars, because of unseen costs like inflation, rising oil prices and expensive care for wounded veterans.
The estimate was revealed in a Democratic staff report from Congress’s Joint Economic Committee. The staff report, titled “The Hidden Costs of the Iraq War,” estimates that the Iraq and Afghan wars have cost the average family more than $20,000.
“The full economic costs of the war to the American taxpayers and the overall U.S. economy go well beyond even the immense federal budget costs already reported,” said the report, which was obtained by the Washington Post.
The White House apparently has vastly underestimated the war’s costs. It requested $804 billion — just more than half the total costs — to keep up its wars and occupations through 2008.
Read the full story HERE.
The following video is from CNN.com, broadcast on November 13, 2007.