"This CRS report provides estimates of the costs of major U.S. wars from the American Revolution through current conflicts in Iraq, Afghanistan, and elsewhere. It gives figures both in 'current year dollars,' that is, in prices in effect at the time of each war, and in inflation-adjusted 'constant dollars' updated to the most recently available estimates of FY2008 prices. All estimates are of the costs of military operations only and do not include costs of veterans benefits, interest paid for borrowing money to finance wars, or assistance to allies. The report also provides estimates of the cost of each war as a share of Gross Domestic Product (GDP) during the peak year of each conflict and of overall defense spending as a share of GDP at the peak. This report will be updated periodically to reflect additional appropriations for ongoing conflicts and to adjust constant dollar figures to prices of the current fiscal year."
CRS Report for Congress, RS22926