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Through 2050, the cost could be closer to 6.5 trillion in interest alone for the wars in Iraq and Afghanistan. This is the first set of wars that were not funde
by nicoffeine 5y ago
Through 2050, the cost could be closer to 6.5 trillion in interest alone for the wars in Iraq and Afghanistan. This is the first set of wars that were not funded by raising the top tax rate. Our grandchildren will be paying for for these mistakes long after the architects of this catastrophe are dead.
"Overall, the U.S.' net interest costs — payments the federal government sends to investors and public debt holders minus interest it collects — are rising. That includes the interest on borrowing to fund the wars in Afghanistan and Iraq. Net interest is projected to widen to 2.7% of GDP in 2031, up from 1.3% in 2024, according to a July report by the nonpartisan Congressional Budget Office." [1]
As a point of reference, we spent 2.5% of GDP for a decade to pay for the Apollo missions.
[1] https://www.cbsnews.com/news/afghanistan-iraq-wars-debt-6-trillion-interest/ https://www.cbsnews.com/news/afghanistan-iraq-wars-debt-6-tr...