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U.S. Wars Cost $11.6 Billion a Month in Current Fiscal Year

The average monthly U.S. cost of the wars in Afghanistan and Iraq this fiscal year, as of July 30, is $11.6 billion, according to the Pentagon Comptroller’s office.

That’s up from an average of $9.7 billion a month as of April 30.

The spending total includes war-related operations, transportation, special combat pay and benefits, food, medical services, maintenance, replacement of lost combat equipment and building the Iraq and Afghanistan security forces.

As of July 30, the latest figures available, monthly Afghanistan spending has increased to $7.8 billion from $6.2 billion as of April 30; Iraq spending has increased slightly to $3.8 billion from $3.5 billion, according to the figures.

The U.S. has about 46,000 troops in Iraq and 98,000 in Afghanistan.

The Afghanistan increase has been driven primarily by more expensive base and facilities support, greater command, control and intelligence equipment, and maintenance and base support of fortified MRAP vehicles, according to Pentagon briefing charts.

To contact the reporter on this story: Tony Capaccio in Washington at acapaccio@bloomberg.net

To contact the editor responsible for this story: Terry Atlas at tatlas@bloomberg.net

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Key Rates

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Today’s national average mortgage rates. Rates may include points.
Type Today 1 Mo
30 Year Fixed Jumbo 4.03% 3.94%
30 Year Fixed 3.77% 3.50%
15 Year Fixed 2.88% 2.74%
10 Year Fixed 2.98% 3.00%
30 Year Fixed Refi 3.76% 3.49%
15 Year Fixed Refi 2.88% 2.71%
5/1 ARM 2.66% 2.62%
5/1 ARM Refi 2.64% 2.57%
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Source: Bankrate.com

Today’s average home equity rates nationwide.
Type Today 1 Mo
$30K HELOC 5.34% 5.24%
$50K HELOC 4.56% 4.53%
$75K HELOC 4.57% 4.53%
$100K HELOC 4.27% 4.21%
$30K Home Equity Loan 5.95% 6.06%
$50K Home Equity Loan 5.97% 6.02%
$75K Home Equity Loan 5.94% 5.99%
$100K Home Equity Loan 5.80% 5.84%
View rates in your area »

Source: Bankrate.com

Today’s average savings rates nationwide.
Type Today 1 Mo
5 Year CD 1.24% 1.21%
2 Year CD 0.70% 0.66%
1 Year CD 0.57% 0.52%
MMA $10K+ 0.47% 0.50%
MMA $50K+ 0.69% 0.70%
MMA Savings Jumbo 0.58% 0.60%
View rates in your area »

Source: Bankrate.com

Today’s average auto loan rates nationwide.
Type Today 1 Mo
60 Months Used Car 2.97% 3.19%
48 Months Used Car 2.92% 3.13%
36 Months Used Car 2.88% 2.96%
72 Months New Car 2.45% 2.96%
60 Months New Car 2.54% 2.67%
48 Months New Car 2.45% 2.58%
60 Months Auto Refi 4.15% 4.36%
36 Months Auto Refi 3.60% 3.76%
View rates in your area »

Source: Bankrate.com

Today’s average credit card rates nationwide.
Type Today 1 Mo
Standard Variable 14.12% 14.12%
Standard Fixed 13.23% 13.23%
Gold Variable 12.70% 12.70%
Gold Fixed 11.99% 11.99%
Platinum Variable 15.53% 15.57%
Platinum Fixed 12.70% 12.70%
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Source: Bankrate.com