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31. Pentagon Says Islamic State Fight Costs $7.6 Million/Day

http://www.bloomberg.com/news/2014-10-10/pentagon-says-islamic-state-fight-costs-7-6-million-day.html

The Pentagon is estimating the cost of U.S. air operations in Iraq and Syria at about $7.6 million a day.

That’s about $424 million from the start of airstrikes on Aug. 8 through through Oct. 2, according to new data provided by the Defense Department.

The latest estimate is at the low end of a range of $7.5 million to $10 million a day that Pentagon officials, including Defense Secretary Chuck Hagel, have cited since last month. The monthly cost of about $225 million compares with an average of $4.6 billion a month that the Pentagon has been spending on air and ground operations in Afghanistan as of June 30, the most recent data available.

“The Pentagon said from the beginning that their initial cost estimates were just rough estimates, so it’s not surprising to see the numbers change,” Todd Harrison, the defense budget analyst for the nonpartisan Center for Strategic and Budgetary Assessments in Washington, said in an e-mail.

Defense officials also confirmed for the first time that AC-130 gunships made by Lockheed Martin Corp. (LMT) have joined bombers such as the the B-1B and fighters such as the the F-16, F-15E and F/A-18 in attacking Islamic State targets in Iraq. Announcements have referred only to the use of unspecified “attack” aircraft.