The war in Iraq may wind up costing as much as World War II.
According to Christian Science Monitor, University of Columbia economist Joseph Stiglitz and Harvard University budget expert Linda Bilmes say the total cost could reach $4.6 trillion, after adding in the cost of equipment replacement and refurbishing, and ongoing medical costs and disability claims for veterans of the war.
Barry Ritholtz, CEO of Wall Street research firm Fusion IQ, says the adjusted-for-inflation total for World War II was 3.6 trillion, according to the report. Initial estimates for fighting in Iraq were $50 to 60 billion.
This story is part of Federal News Radio’s daily DoD Report. For more defense news, click here.