The Staggering Costs of the Iraq and Afghanistan Wars

The Staggering Costs of the Iraq and Afghanistan Wars

We discuss the high costs of the Iraq and Afghanistan wars, which reached a peak of 4.3% of the US gross domestic product. The wars were initially presented as precise surgical operations, but in reality, the US commitments escalated over time. Economist John Stiglitz estimates the true cost of these wars to be around $3 trillion, which has since risen to $5 trillion. Unlike previous wars, the US was unable to finance these conflicts through taxes due to the pressure of recession and tax cuts introduced by President Bush, leading to a growing deficit.

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