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Katrina May Cost U.S. as Much as Two Wars - ASHARQ AL-AWSAT English Archive
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Washington-One storm could end up costing almost as much as two wars. Although estimates of Hurricane Katrina”s staggering toll on the treasury are highly imprecise, costs are certain to climb to $200 billion in the coming weeks. The final accounting could approach the more than $300 billion spent in four years to fight in Afghanistan and Iraq, The Associated Press

reported.

Analysts inside and outside government agree that the $62 billion that Washington has spent so far was merely the first installment of perhaps an unparalleled sum.

&#34I cannot put a cost figure on it,&#34 Vice President Dick Cheney said Thursday in a visit to the hard-hit states.

The government never has dealt with a disaster of this scale: 90,000 square miles of the Gulf Coast affected, with hundreds of thousands of people displaced and an entire metropolitan area under water.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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