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Wars costing US $12bn a month
10/07/2007 07:15 - (SA)
Washington - The United States has shelled out well over half a trillion dollars on the wars in Iraq and Afghanistan, and running costs have hit $12bn a month, according to an independent report.
New figures by the non-partisan Congressional Research Service (CRS) emerged as debate hit a critical point in Washington over the huge human and financial costs of the four-year conflict in Iraq.
The report also provided a glimpse into the astronomical costs of US military operations in years to come - saying the global war on terror could have churned through a stunning 1.4 trillion dollars by 2017.
Since the strike on Afghanistan launched after the September 11 attacks in 2001, the United States has spent $610bn on the two wars, and on protecting US bases worldwide, said the report, updated late last month.
Iraq has accounted so far for $450bn, the report said. In fiscal year 2007 alone, the Iraq operation sucked up $165.8bn, an increase of 40% year-on-year.
CRS, which exists to provide non-partisan and independent advice to lawmakers and congressional committees, said the huge financial cost of the war was set to rise.
If 2008 funding requests are granted in full, the report said, war spending will rise to $758bn, with $567bn spent on Iraq.
"For the first half of FY2007, CRS estimates that DOD's average monthly obligations for contracts and pay is running about $12bn per month, well above the $8.7bn in FY2006," the report said, referring to the Defence Department (DOD).
If already spent money and future spending estimates of Iraq and Afghan war funding are combined, the total war costs could reach between $980bn to 1.4 trillion dollars by 2017, the report said.
The fiscal year begins on October 1.
- AFP
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