Iraq War Not Breaking the Bank

In fact, it�s one of the least expensive conflicts in our nation�s history.

Critics of the war in Iraq often complain about the �escalating cost
of the war.� Listening to them, you�d never know that the war is one of
the least expensive in American history.

Robert Whaples, professor of economics at Wake Forest University, has
measured the cost of each major American war up through the first Gulf
War. We took these costs and compared them to the cost of the Iraq war
and found that the Iraq experience has consumed a smaller percentage of
GDP (just 2 percent of one year�s wealth creation) than every other
American war except the first Gulf War (which measured just 1 percent of
GDP).

This stands in stark contrast to the Vietnam experience, which
opponents have often attempted to liken to the Iraq war. Vietnam comprised a
much heartier 12 percent of GDP at the time. Other conflicts, such as
World War II, took a remarkable 130 percent of a year�s GDP to see
through to success.

The work is not done in Iraq, and the financial costs will grow
beyond the $251 billion we have spent so far. The real cost, of course, is
in human lives, manifested in the debate about whether it is worth
losing a few thousand American lives in order to liberate 23 million people.
But the data are clear; any attempt to discredit this war based on its
effect on the U.S. economy is an unnecessary distraction.