National debt

September 11th and the National Debt

For the victim’s families, the costs of the September 11th attacks were incomprehensibly high. There were many other costs apart from precious human lives, however, and people often forget just how much we are all paying on an ongoing basis due to the attacks which originated the “Global War on Terror.” 
An organization linked to former CIA director James Woolsey estimated that the damages associated with the attacks were on the order of $2 trillion. Those costs included losses in property damage, lost production of goods and services, and losses on Wall Street. [1] Others have estimated the damages to be much lower, [2] and some have reported that the stock market was largely unaffected by the attacks. [3] The Lower Manhattan Development Corporation was given an amount closer to the lower estimates in order to help rebuild the immediate area.[4]
The current US military costs resulting from the wars that were started in response to the September 11th attacks are over $1 trillion.[5] Of course, other countries have also incurred significant costs to support the US led wars. A few years ago, mainstream media sources were estimating that the Iraq War alone would cost the US more than $3 trillion.[6] If the same logic is applied to the Afghanistan war, using the same rate, that war will cost the US at least $1 trillion. Of course, there is no end in sight for US military operations in either of these occupied countries, so these figures should be seen as minimum estimates. Additionally, these war cost estimates are called incremental costs, meaning that they are above “military salaries, training and support activities, and weapons procurement” as well as military construction.[7]