Home / News / Brown University Report: US Govt’s War-Related Expenditures to Hit Nearly $5T by 2053

Brown University Report: US Govt’s War-Related Expenditures to Hit Nearly $5T by 2053

budget analysis reviewA new report published by Brown University’s Watson Institute for International and Public Affairs projects the U.S. federal government to spend a total of $4.79 trillion on overseas contingency operations, veterans’ medical care and homeland security efforts from 2017 through 2053.

Neta Crawford, professor of political science at Boston University and co-director of the Costs of War project, wrote in the report that the U.S. government has already allocated $3.6 trillion in funds to wars in Afghanistan, Iraq, Syria and Pakistan as of August.

The document also noted that since 2001, the departments of Defense and State have received congressional appropriations worth approximately $1.74 trillion for OCOs, which include military and reconstruction work in Iraq and Afghanistan.

The report also projects the U.S. government to incur approximately $1 trillion in costs to provide disability and medical support for injured veterans by 2053.

Crawford also estimates that OCO-related interest costs could add at least $1 trillion to the national debt over the next seven years.

War-related interest payments are also projected to reach over $7.9 trillion by 2053, the document added.

Check Also

SEC to Address Financial Technology Concerns, Innovations via New Hub

The Securities and Exchange Commission has opened a hub where it can coordinate with public and private sector entities to address concerns and initiate developments in financial technology.
 

Leave a Reply

Your email address will not be published. Required fields are marked *