The Price of Iraq
Beyond $50 Billion
by Abrahm Lustgarten, FORTUNE

(FORTUNE Magazine) - On March 16, three years to the day after the U.S. invaded Iraq, U.S. aircraft prepare for Operation Swarmer, the largest air offensive since the initial assault. The cost of the war, of course, has long since moved beyond the $50 billion figure Defense Secretary Donald Rumsfeld estimated in early 2003. Congress has approved roughly $301 billion for military operations in Iraq since the war's start; the Congressional Budget Office projects additional costs of at least $266 billion, assuming it takes a decade to wind things down. As for indirect costs (such as veterans' medical payments and the effect on oil prices), Columbia University economics professor Joseph Stiglitz asserts the full bill could be as high as $2.2 trillion. Top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.