The lifelong cost of war
October 04, 2010
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The St. Pete Times has an article on soldiers who have suffered traumatic brain injuries (TBI) in Iraq or Afghanistan. We often focus on the number of people killed in a war, and give the injured just passing thought -- as if they have a cold and will get over it. However, thousands of soldiers will suffer the consequences for the rest of their lives.
As a country, it is our duty help these soldiers. It won't be cheap. From the article: "Next month, a $65 million medical center devoted to TBI, post-traumatic stress disorder and other psychological problems will open its doors at Bethesda; it will eventually treat about 20 patients."
A couple of years ago, Joseph Stiglitz estimated that the cost of the wars in Iraq and Afghanistan will eventually reach $3 trillion, partially because of the long-term costs of providing for veterans. According to Stiglitz, spending on World War II vets peaked in 1993, 48 years after the war ended.
Which brings up a point raised by Bruce Bartlett in a Forbes article from a February: The U.S. budget deficit won't be eliminated by just cutting earmarks, pork, and foreign aid. We have made a lot of promises to a lot of people -- future retirees, purchasers of Treasuries, veterans -- that will be difficult to break. In the case of these wounded veterans, of course, we shouldn't.
Robert Brokamp, CFP®, is the senior advisor for the Fool's Rule Your Retirement service.
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