The Economic Impact of the US/Iraq and Afghanistan
The Economic Impact of the
US/Iraq and Afghanistan
ECO2013
August 18, 2014
Introduction In the past decade, the US has engaged in a number of wars with countries in the Middle East with regard to increased terrorism threat in the world. Presently, the US troops are engaged in armed conflict with the Taliban groups in Afghanistan and Iraq, and is contemplating engaging its troops in Syria to combat the Syrian government in the Syrian civil crisis. This move, however, has been met by widespread opposition from the public and legislators who have grown weary of the country’s planned invasion of Syria. Much of the outcry is directed at the government’s decision because of the impact that such a move will have of the US economy, analyzing from the previous impact that the country’s involvement in Iraq has had on the economy. This paper shall evaluate the decision by the political class in the US to engage in armed conflict with terrorist groups in the ways that it has affected and it will continue to the country’s economy.
The Economic Impact of the US/Iraq and Afghanistan War
The decision by the US to invade the countries of Iraq and Afghanistan was a political decision that was arrived at by the political class, headed by the country’s then president Bush and the senate. Economic analyses in the country on its expenditure in the two countries and in other operations that are tied to the country’s fight against terrorism indicate that it amounts to a modest amount of money each year. Military spending in these operations is estimated to be 6.2% of the country’s total GDP. Economists also point to the indirect and collateral effects of the wars on the economy, most of which are not captured in these calculations. These include increased international debt as a result of sustained war costs and the increased volatility in the oil prices all over the world as a result of the instability experienced in the two countries of
US/Iraq and Afghanistan
ECO2013
August 18, 2014
Introduction In the past decade, the US has engaged in a number of wars with countries in the Middle East with regard to increased terrorism threat in the world. Presently, the US troops are engaged in armed conflict with the Taliban groups in Afghanistan and Iraq, and is contemplating engaging its troops in Syria to combat the Syrian government in the Syrian civil crisis. This move, however, has been met by widespread opposition from the public and legislators who have grown weary of the country’s planned invasion of Syria. Much of the outcry is directed at the government’s decision because of the impact that such a move will have of the US economy, analyzing from the previous impact that the country’s involvement in Iraq has had on the economy. This paper shall evaluate the decision by the political class in the US to engage in armed conflict with terrorist groups in the ways that it has affected and it will continue to the country’s economy.
The Economic Impact of the US/Iraq and Afghanistan War
The decision by the US to invade the countries of Iraq and Afghanistan was a political decision that was arrived at by the political class, headed by the country’s then president Bush and the senate. Economic analyses in the country on its expenditure in the two countries and in other operations that are tied to the country’s fight against terrorism indicate that it amounts to a modest amount of money each year. Military spending in these operations is estimated to be 6.2% of the country’s total GDP. Economists also point to the indirect and collateral effects of the wars on the economy, most of which are not captured in these calculations. These include increased international debt as a result of sustained war costs and the increased volatility in the oil prices all over the world as a result of the instability experienced in the two countries of