How has the U.S. paid for the war so far? The United States paid for past wars by raising taxes and or selling war bonds. The current wars were paid for almost entirely by borrowing. This borrowing has raised the U.S. budget deficit, increased the national debt, and had other macroeconomic effects, such as raising interest rates. The U.S. must also pay interest on the borrowed money. The interest paid on Pentagon spending alone, so far (from 2001 through FY 2013) is about $259 billion in current dollars.
Not only is the cost of war increasing the cost of deploying one US soldier is also rising. According to reports, as of right now, keeping one American service member in Afghanistan costs between $850,000 and $1.4 million a year, depending on who you ask. But one matter is clear, that cost is going up.
For more information please visit: http://costsofwar.org/
This video puts it all into perspective http://www.youtube.com/watch?v=K8y6zEc8x5w
Published by: Molly Swander 4/24/13