In order to fund wars in Iraq and Afghanistan, Presidents Bush and Obama have spent more than $1 trillion on direct costs alone.
On top of that, annual defense spending has just about doubled since 2001, rising to almost $700 billion in 2010. Military spending now accounts for more 20% of the entire federal budget.
Obama ordered more troops to Afghanistan in 2009, while he has simultaneously drawn down forces in Iraq. Costs are still sky-high. In February, Obama requested $118 billion to fund the wars just for fiscal year 2012.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.94%||4.13%|
|15 yr fixed||3.04%||3.08%|
|30 yr refi||4.02%||4.17%|
|15 yr refi||3.10%||3.14%|
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