The fresh calculation – which includes the cost of spiralling veterans’ care bills and the future interest on war loans – paints a grim picture of how America’s future at home and abroad has been mortgaged to the two conflicts entered into by George W Bush in 2001 and 2003.
“There will be no peace dividend,” is the stark conclusion from the 22-page report from the Kennedy School of Government, “and the legacy of Iraq and Afghanistan wars will be costs that persist for decades.”
The report comes as the US prepares for a final withdrawal from Afghanistan, a move that Barack Obama trumpeted in his State of the Union address as a sign that America was finally moving forward after a sapping decade of war.
However the working paper by Professor Linda J. Bilmes makes clear that the true legacy the two conflicts – which have cost $2 trillion in actual outlays so far – have not yet even begun to be appreciated.
