In: Economics
The Iraq War's actual cost is more than the $1.06 trillion added to the debt. First and foremost is the burden incurred by the 4,488 dead U.S. soldiers, the 32,226 wounded, and their families. Over 90 percent of Iraqi wounded soldiers survived thanks to improvements in battlefield medicine. That's up from the Vietnam War's 86.5 percent wounded survivor. The higher rate of survival also means that many must now live with serious and complex damage. Twenty per cent are treated for traumatic injury to the brain. Another 20 percent have either post-traumatic or depressive stress disorder. 796 also suffered major amputation of the limbs, while 235 died as a result of self-inflicted wounds while serving in iraq
Most American families at the time didn't feel the cost of the Iraq war. First, there was no draft, like there was in the Second World War or the Vietnam War. Second, there was no extra tax. As a result the burden was borne by those who worked and by their families. In the next few decades, they'll spend at least $300 billion to care for their wounded family members. This does not include missed income from employment they are leaving to care for their parents. National Guard and Reserve call-ups disrupted companies, particularly small businesses. The economy has also been deprived of the productive contribution of the killed, injured or psychologically traumatized service members.
The US has been engineering policies to open the country to foreign investors since the 2003 invasion, disbanding numerous state-owned factories and businesses; the IMF has introduced a package of economic reforms including an end to fuel , food, and health subsidies. The destruction of Iraq's economy has pushed levels of unemployment to 60 percent. The Coalition has refused to secure Iraq's incomparable cultural heritage during the war and occupation and has exposed it to looters and art thieves. The National Library and the National Museum were severely damaged and looted in the early days of the occupation, along with many other important cultural institutions.