As Iraq Costs Soar, Contractors Earn Record Profits

By Eli Clifton

Credit:DoD/Staff Sgt. Dennis J. Henry Jr., U.S. Air Force.

U.S. soldiers on patrol in southwest Baghdad, Jul. 28, 2007.

WASHINGTON, Aug 2 (IPS) – In a report to lawmakers earlier this week, the non-partisan Congressional Budget Office found that the war in Iraq could cost U.S. taxpayers over a trillion dollars when the long-term costs of caring for soldiers wounded in action, military and economic aid for the Iraqi government, and ongoing costs associated with the 190,000 troops stationed in Iraq are totaled up.

White House Office of Management and Budget Director Mitch Daniels’ 2003 estimate that the war in Iraq could cost 50-60 billion dollars stands in stark contrast to the 500 billion dollars already allocated to the conflict in Iraq and reconstruction projects.

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