New JEC Report Reveals Total Economic Costs of War Could Exceed $3.5 Trillion if U.S. Stays the Course

New JEC Report Reveals Total Economic Costs of War Could Exceed $3.5 Trillion if U.S. Stays the Course

November 13: Senate Majority Leader Harry Reid (D-NV) and House Majority Leader Steny Hoyer (D-MD) will join Joint Economic Committee (JEC) Chairman Charles E. Schumer (D-NY), and JEC Vice Chair Carolyn Maloney (D-NY) today released a new report exposing the hidden costs of the war in Iraq. The Joint Economic Committee report investigates the costs of the war in Iraq that are not included in direct budgetary appropriations, including long term veteran’s health care, foregone investment, oil market disruptions and interest payments on borrowed war funding. The JEC estimates these costs could total in the trillions of dollars. ...