Can the U.S. afford another $3 trillion war?

Pentagon: ISIS poses a major threat

STORY HIGHLIGHTS

• New security threats are leading to renewed calls for U.S. military engagement
• After Iraq and Afghanistan, Americans are wondering if the economy can withstand any more
• Withdrawal from these campaigns was supposedly a prelude to belt-tightening at the Pentagon
• This time around, America is starting off in a much weaker financial position, says Bilmes

Editor's note: Linda J. Bilmes is the Daniel Patrick Moynihan Senior Lecturer at Harvard University, and co-author (with Joseph Stiglitz) of "The Three Trillion Dollar War: The True Cost of the Iraq Conflict." The opinions expressed in this commentary are solely those of the author.
Correction: An earlier version of this article said the Pentagon budget grew by $1.3 billion in constant dollars since 2001. It should in fact have been $1.3 trillion.

http://edition.cnn.com/2014/08/27/opinion/iraq-opinion-united-states-cost-of-war/index.html?iref=allsearch