” While the dollar cost of war is good for a hot headline on a slow news day, the fact that the money saved lots of American lives, never seems to make it to the front page.”
Ever so true….especially today when the Dems, our current president and the MSM talk about the cost of the wars in Iraq and Afghanistan. When they talk about debt, they blame defense….when they talk seriously about budget cuts, they go to the defense department.
But reality is, the wars we are fighting today are expensive, but relative to other wars, they are less costly for the amount of money available. And, aside from the fact that Americans involved in war saves American lives, the defense of our country is one of the FEW things for which the US Government should actually be spending our money.
This interesting piece at Strategy Page: The True Cost of War outlines the costs of American wars and their relation to debt since the American Revolution. It is full of fun facts and good information to know.
Read it all. Here’s an excerpt:
The U.S. government has released updated data on the cost of current and past wars. This updated data (all costs in current dollars, adjusted for inflation) show that;
American Revolution (1776-83) cost $2.4 billion
War of 1812 (1812-15) cost $1.55 billion.
Mexican War (1846-49) cost $2.38 billion
Civil War (1861-65) cost $79.74 billion (75 percent for the Union forces)
Spanish American War (1898-99) cost $9.04 billion.
World War I (1917-21) cost $334 billion
World War II (1941-45 ) cost $4.1 trillion
Korean War (1950-53) cost $341 billion
Vietnam (1965-75) cost $738 billion
Persian Gulf War (1990-91) cost $102 billion
Afghanistan War and Other War-On-Terror Operations (2001-10) cost $321 billion
Iraq War (2003-10) cost $784 billion
……..Going into the 20th century, the U.S. was the mightiest industrial power on the planet, and incredibly wealthy. Despite costing four times as much as the Civil War, World War I consumed the same percentage of GDP. World War II cost more than ten times as much as World War I, but only required three times as much GDP. Korea continued that trend, consuming less than four percent of GDP. Vietnam cost more than twice as much as Korea, but consumed half as much GDP. The Persian Gulf War consumed about a quarter of one percent of GDP. Both the Iraq and Afghan wars together have consumed only about one percent of GDP, less of a financial burden than any of the 19th century wars, except the Civil War.
(H/T: Ace of Spades Top Headlines)
Filed under: Conservatism, Economy, Foreign policy, George W Bush, History, Liberalism, Military Matters, Politics, War on Terror | Tagged: Afghanistan, Civil War, cost of war, defense spending, GDP, Iraq, Korean War, Persian Gulf War, Revolutionary War, Vietnam War, World War I, World War II |