America, the world’s most powerful economy is reeling the impact of the costs of its recent war against terror. The costs of the war is reaching a saturation point and is estimated at an overarching figure of about $2.4 trillion (Rs.960,000 crore). According to a US congressional budget office estimate released recently the cost of wars in Iraq and Afghanistan could add up another $2.4 trilion, during the next decade. This includes an outlay of $705 billion to pay interest on the money borrowed to fund the war is funded.

The latest estimate includes US President George Bush’s request for an additional outlay of $46 billion to continue the war in both the countries, said Rep. John Spratt, budget committee chairman. It is estimated that the war in Iraq is costing the maximum to American government. Nearly 80 percent of the money spent on the wars is channelised into Iraq. Experts estimate that the Iraq war would cost $1.9 trillion, including $564 million in interest, said Thomas Kahn, Spratt’s staff director. The figures are leaving experts speechless and clueless about the future. Another Congressional member Rep. Rahm Emanuel said that the amount of money being pumped into the wars is astounding.

The number is so big, it boggles the mind,

he said.

But White House executives are not amused or amazed by these estimates. They accuse Congress of indulging in political gambits and preventing money and facilities from reaching its troops. White House budget office spokesman Sean Kevelighan, said,

Congress should stop playing politics with our troops by trying to artificially inflate war funding levels.

But Kevelighan is not ready to give the actual budget estimates for war made by the White House citing need for secrecy and confidentiality.

On the other hand the Congressional Budget Office says that its figures are based on the assumption that only 75,000 troops will be stationed in both countries through 2017. If there is change in this number the out will have to be proportionately increased or decreased as per the ground situation. Out of this 75,000, around 50,000 will be in Iraq and the rest in Afghanistan. According the Congressional Budget Office, the two wars have already cost the American government $604 billion as of September 30. An amount far higher than the costs incurred by America dring the Korea and Vietnam wars, according to the Washington-based Center for Strategic and Budgetary Assessments, which tallied the figures by adjusting the costs for inflation and computed the results.

These costs and estimates comes as a shock to everyone in America. A few months before launching the campaign on Iraq, Bush administration had declared that the Iraq war would cost no more than $50 billion, but it has crossed that figure and is still taking in more and more money.

It is a wonder that people and nations like America are willing to spend billions and trillions of dollars on wars while the same money could be deployed in welfare measures of poor and underprivileged people in its own soil. If there are no poor and underprivileged people in US, there are countries in Africa, South and South East Asia which are in dire need of aid and money. The aid could secure the younger generations eduacation, life, future livelihoods etc.

This will help create a relatively conflict free world rather than fighting wars which will leave deep scars on the now young infants and the children of ravaged nations. If America had contributed even half of the money it has spent on wars in the last two centuries to public welfare, the world would have been a much better place to live in and peace would have been easier to achieve.

The table below gives a comparative analysis of the cost of U.S. WARS in the 20th and 21st centuries
Wars, Cost (in billions (adjusted for inflation)
World War II $3,900
Korea $456
Vietnam $518
Persian Gulf War $88
Iraq/Afghanistan $604