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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.
The Gulf War, 1991. 1  At the end of the Iran-Iraq War of 1980â1988, Iraq emerged with its state intact and a reinforced sense of national pride, but laden with massive debts. Iraq had largely financed the war effort through loans, and owed some $37 billion to Gulf creditors in 1990.