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Cost to US of Iraq and Afghan wars could hit $6 trillion. The cost of the wars in Iraq and Afghanistan could reach as high as $6 trillion dollars â or $75,000 for every household in America â a new study from Harvard University has found.
Rockoff estimates the total cost of World War I to the United States at approximately $32 billion, or 52 percent of gross national product at the time. He breaks down the financing of the U.S. war effort as follows: 22 percent in taxes, 58 percent through borrowings from the public, and 20 percent in money creation.