9 hrs ago
America's Two-Decade Response Racked Up Roughly $8 Trillion
Nineteen men triggered a military response by America.
That response lasted about 20 years.
It cost roughly $8 trillion in total.
At its most expensive, it cost about three-quarters of a trillion dollars each year.
The average cost was estimated at about $70,000 for each United States taxpayer.
The government borrowed money to pay for almost all of the wars.
Taxes were cut during wartime, according to Neta Crawford.
This meant much of the bill was passed to a future generation.
Nineteen men triggered an American response that lasted two decades.
The response cost roughly $8 trillion, according to Brown University's Costs of War Project.
Spending reached about three-quarters of a trillion dollars annually at its peak.
The cost amounted to approximately $70,000 for every United States taxpayer.
The wars were financed largely through borrowing, shifting the bill to a later generation.
- Who
- Nineteen men triggered the response; the United States financed it.
- What
- A two-decade response accumulated roughly $8 trillion in costs.
- Where
- The costs were incurred by the United States.
- When
- Over two decades, with spending reaching its peak at three-quarters of a trillion dollars per year.
- Why
- The response was triggered by nineteen men, while the wars were financed largely through borrowing.
Key facts
- Total cost
- Roughly $8 trillion
- Duration
- Two decades
- Peak annual spending
- About three-quarters of a trillion dollars
- Estimated taxpayer cost
- About $70,000 per United States taxpayer
- Funding method
- The wars were financed on borrowed money
- Tax policy
- Neta Crawford said taxes were cut during wartime
- Cost assessment
- The estimate comes from Brown University's Costs of War Project
Sources
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