America's military deployments in Iraq and Afghanistan are expected to cost close to $200 billion for 2008 alone, and maintaining that commitment will become considerably more burdensome as Washington is forced to funnel many hundreds of billions of dollars into simply averting financial collapse. The looming global economic recession will further slash tax revenues available to the U.S. government.
Karon writes that Congressional estimates of the cost of the wars in Iraq and Afghanistan to be $2 trillion up to 2017 and
The current credit crisis and economic slowdown will considerably raise the pressure on the U.S. national debt, which had already grown from around $6 trillion in 2001 to near $10 trillion today.
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