The goal of this report will be to bring awareness of the various economic costs of the Iraq War. The war which has continued for far longer than anyone expected has seen recent estimates of costs to accumulate to roughly a trillion dollars. That amount is staggering considering former director of the White House Economic Council Lawrence Lindsey stunned the Bush Administration in 2002 when Lindsey suggested the war would cost between $100 and $200 billion.
The report will focus on the economic costs associated with the U.S. budget and how it is set aside for Department of Defense spending, the costs to Iraq and the environment, and the cost of human life loss and post-war lives of veterans. Our findings and research based on several previous reports contain some estimates and require several assumptions when we try to monetize the values of human life and other indirect costs related to the war.
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The Economic Cost Of The Iraq War
1. Greg Young Aditya Mehta Eric Garcia 05/29/10 California Lutheran University: School of Business
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5. Estimates in Percentage change per year. Source: CRS report for Congress, updated February 8 th 2008 05/29/10 California Lutheran University: School of Business
17. 05/29/10 California Lutheran University: School of Business Budgetary and Social Economic Costs Total Operations to Day $646 $646 (Spent to date) Future Operations $521 $913 (Future Operations only) Future Veterans' Costs $422 $717 (Hidden Medical+ Veterans Disability + Veterans Sosical Security) Other Military Costs/Adjustments $132 $404 (Hidden Defence + Future Defence reset + Demobilization, less no-fly-zone savings) Total Budgetary Costs $1,721 $2,680 Social Costs Total $295 $415 Total Budgetary and Social Costs $2,016 $3,095 Total Budetary, social, and $2,203 $4,995 Macroeconomic Costs (Without Interest) Interest costs $613 $816 Total ( With Interest) $2,816 $5,811
29. 05/29/10 California Lutheran University: School of Business Cost in Billions Best Case Realistic- Moderate Macroeconomic Costs Oil Price Impact $187 $800 Budgetary Impact $0 $1,100 Subtotal Macro Economic Costs $187 $1,900
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Notas del editor
Thank you for joining us this evening… I hope you find this presentation to be quite informational and thought provoking.
Today we are going to talk about the war in relation to two different costs. The budgetary cost is more of the direct cost that the government associates with the war