According to this article from CNN, the recently released report "Cost of Major U.S. Wars" by the Congressional Research Service says that the United States has spent an estimated $1.15 trillion on wars since the September 11, 2001, terror attacks.
Adjusting for inflation, the outlays for conflicts in Afghanistan, Iraq and elsewhere around the world make the "war on terrorism" second only to World War II. World War II consumed a massive 36 percent of America's gross domestic product; meanwhile, post-9/11 cost of the conflicts is about 1 percent of GDP.
Looks like the predictions had been right.
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