This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

AP: Costs Of US Wars Linger For Over 100 Years

By MIKE BAKER

OLYMPIA, Wash. (AP) â¿¿ If history is any judge, the U.S. government will be paying for the Iraq and Afghanistan wars for the next century as service members and their families grapple with the sacrifices of combat.

An Associated Press analysis of federal payment records found that the government is still making monthly payments to relatives of Civil War veterans â¿¿ 148 years after the conflict ended.

At the 10 year anniversary of the start of the Iraq war, more than $40 billion a year are going to compensate veterans and survivors from the Spanish-American War from 1898, World War I and II, the Korean War, the Vietnam War, the two Iraq campaigns and the Afghanistan conflict. And those costs are rising rapidly.

U.S. Sen. Patty Murray said such expenses should remind the nation about war's long-lasting financial toll.

"When we decide to go to war, we have to consciously be also thinking about the cost," said Murray, D-Wash., adding that her WWII-veteran father's disability benefits helped feed their family.

Alan Simpson, a former Republican senator and veteran who co-chaired President Barack Obama's deficit committee in 2010, said government leaders working to limit the national debt should make sure that survivors of veterans need the money they are receiving.

"Without question, I would affluence-test all of those people," Simpson said.

With greater numbers of troops surviving combat injuries because of improvements in battlefield medicine and technology, the costs of disability payments are set to rise much higher.

The AP identified the disability and survivor benefits during an analysis of millions of federal payment records obtained under the Freedom of Information Act.

To gauge the post-war costs of each conflict, AP looked at four compensation programs that identify recipients by war: disabled veterans; survivors of those who died on active duty or from a service-related disability; low-income wartime vets over age 65 or disabled; and low-income survivors of wartime veterans or their disabled children.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs