http://www.house.gov/budget_democrats/analyses/iraq_cost_update.pdf [Broken]The United States has undertaken a vast commitment to rebuild the nation of Iraq, to create a representative government out of a country with no history of democracy, and a market economy out of a statist economy that has been grossly mismanaged for years. It is important that the Congress and the American people have a clear understanding of the commitment this effort requires.
This analysis concludes that if Congress approves the 2004 supplemental the President has submitted, and does not spend any new money on Iraq after 2004, the cost to the United States, including interest on the public debt, will reach $178 billion over the next decade. This includes only the cost of operations in Iraq, and excludes all estimated costs from the 2003 and 2004 supplementals related to Afghanistan.
Last fall, the Democratic staff of the House Budget Committee released an analysis concluding that the cost of a war in Iraq, including interest on the public debt, would probably reach $100 billion and could rise to $200 billion. This is likely to prove a conservative estimate of the total costs.
Under a reasonable set of assumptions, the cost of our operations in Iraq will reach $237 billion and could reach $418 billion over the next 10 years. Because there is no proposal to offset or pay for the war or the post-war effort, it has to be assumed that the cost will increase the deficit and the national debt.
The following table summarizes the potential cost of these scenarios: [continued]
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