First Week in Libya Costs At Least $600 Million

Over at ABC News, Devin Dwyer and Luis Martinez report that the first week of the U.S. intervention in Libya has cost at least $600 million. According to their sources, the most costly items include

  • 191 Tomahawk cruise missiles – $269 million
  • F-15E fighter – $60 million+
  • Fuel for jets and ships
  • Other munitions

Other news sources report lower costs for missiles and the fighter, so I would take ABC’s numbers with a grain of salt until there’s official sourcing. Still, they give a useful sense of the financial costs of the operation.

By any normal standards, $600 million (and counting) is great deal of money – bigger, indeed, than some of the programs that Congress is fighting over in its never-ending debate over the 2011 budget.

For full context, though, keep in mind that we are on track to spend $110 billion in Afghanistan this year and $44 billion in Iraq.

About Donald Marron 294 Articles

Donald Marron is an economist in the Washington, DC area. He currently speaks, writes, and consults about economic, budget, and financial issues.

From 2002 to early 2009, he served in various senior positions in the White House and Congress including: * Member of the President’s Council of Economic Advisers (CEA) * Acting Director of the Congressional Budget Office (CBO) * Executive Director of Congress’s Joint Economic Committee (JEC)

Before his government service, Donald had a varied career as a professor, consultant, and entrepreneur. In the mid-1990s, he taught economics and finance at the University of Chicago Graduate School of Business. He then spent about a year-and-a-half managing large antitrust cases (e.g., Pepsi vs. Coke) at Charles River Associates in Washington, DC. After that, he took the plunge into the world of new ventures, serving as Chief Financial Officer of a health care software start-up in Austin, TX. After that fascinating experience, he started his career in public service.

Donald received his Ph.D. in Economics from the Massachusetts Institute of Technology and his B.A. in Mathematics a couple miles down the road at Harvard.

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