On the new CBO study out now counting the costs of President Bush's 'Korea model', keep this comparison in mind. This report and a previous report covering projections for 2009-2017 estimate that by 2057 we will spend $2 trillion on Iraq in addition to what we've already spent, which is over $500 billion.
But let's set aside the half trillion we've already blown and focus on the two trillion more over the next 50 years. And let's compare that to the Social Security budget shortfall over the next 75 years. And remember, the Iraq numbers are quite low compared to what we're currently spending. And the Social Security numbers are based on conservative estimates of future growth. So the Iraq numbers would likely be higher and the Social Security number lower.
But Iraq over the next 50 years: $2 trillion.
Social Security shortfall over the next 75 years
: $4.7 trillion