We built a dashboard. It tracks oil prices, war costs, and what we're trading away. The only question it can't answer is the one you have to ask yourself.
The Italian public healthcare budget is 136 billion for the year 2025 for 60 million people: equivalent to €7/day per inhabitant (yes, only €7/day, this is the magic of economies of scale).
If you assume the cost is the same, it means 5 days of universal healthcare for each USA citizen. Whatever the pathology, from an insulin pen to a heart transplant.
Brilliant! Very useful. Thanks for doing this. It’s exactly what’s needed to calculate part of the subsidized cost of fossil-fuel energy over the long run. This is because the cost of wars that help secure the supply of fossil fuels represents what economists call an external or hidden subsidy. For example, the price at the gas pump is what it is, but a society ends up paying for the subsidy elsewhere in the economy, because other services and government support are cut, or cannot be fully funded (as is shown in the dashboard). This, or the country is forced to increase taxes, or its deficit and national debt. To determine the added cost to a gallon of gasoline when treating war costs as an implicit (external) subsidy, we use the estimated total cost of a conflict (such as the Iraq or Iran Wars) and divide it by the volume of gasoline consumed over the period (e.g. years since the last war or ‘expenditure’). Output result: approximately $2 -$0.25 per gallon depending on the inputs & assumptions. This long term effective (e.g., gasoline) price increase is in addition to the supply-demand shocks in apparent (e.g., gas) prices that we are currently experiencing. It will rise every day that the war continues. The money is spent. Sources for input numbers include: your site, and the Center for Strategic and International Studies ($1 billion+ per day), Nobel laureate Joseph Stiglitz and Linda Bilmes, or the researchers at Brown University (for the Iraq war), and the U.S. (EIA) [approximately 140 billion gallons gasoline per year]. Rough estimate for illustration. Comments and critiques are welcome.
13 billion in 6 days.
The Italian public healthcare budget is 136 billion for the year 2025 for 60 million people: equivalent to €7/day per inhabitant (yes, only €7/day, this is the magic of economies of scale).
If you assume the cost is the same, it means 5 days of universal healthcare for each USA citizen. Whatever the pathology, from an insulin pen to a heart transplant.
𝕎𝕙𝕥𝕤𝕒𝕡𝕡𝗠𝔼➕𝟙⤈5𝟠5⤈𝟞𝟚3⤈𝟢𝟙33⤈𝗞𝗲𝘆𝗜𝗻𝘀𝗶𝗴𝗵 𝗧𝘀⤈
It's a dern useful & shareable tool. Thank you.
Are all the ~130m households tax paying? Is the burden a bit more for tax paying households?
The calculation is based on those who pay taxes according to the IRS records.
Brilliant! Very useful. Thanks for doing this. It’s exactly what’s needed to calculate part of the subsidized cost of fossil-fuel energy over the long run. This is because the cost of wars that help secure the supply of fossil fuels represents what economists call an external or hidden subsidy. For example, the price at the gas pump is what it is, but a society ends up paying for the subsidy elsewhere in the economy, because other services and government support are cut, or cannot be fully funded (as is shown in the dashboard). This, or the country is forced to increase taxes, or its deficit and national debt. To determine the added cost to a gallon of gasoline when treating war costs as an implicit (external) subsidy, we use the estimated total cost of a conflict (such as the Iraq or Iran Wars) and divide it by the volume of gasoline consumed over the period (e.g. years since the last war or ‘expenditure’). Output result: approximately $2 -$0.25 per gallon depending on the inputs & assumptions. This long term effective (e.g., gasoline) price increase is in addition to the supply-demand shocks in apparent (e.g., gas) prices that we are currently experiencing. It will rise every day that the war continues. The money is spent. Sources for input numbers include: your site, and the Center for Strategic and International Studies ($1 billion+ per day), Nobel laureate Joseph Stiglitz and Linda Bilmes, or the researchers at Brown University (for the Iraq war), and the U.S. (EIA) [approximately 140 billion gallons gasoline per year]. Rough estimate for illustration. Comments and critiques are welcome.
𝕎𝕙𝕥𝕤𝕒𝕡𝕡𝗠𝔼➕𝟙⤈5𝟠5⤈𝟞𝟚3⤈𝟢𝟙33⤈𝗞𝗲𝘆𝗜𝗻𝘀𝗶𝗴𝗵 𝗧𝘀⤈
What fun! And seriously useful. Many thanks.
It needs to be presented as a graph with the timeline on the x-axis.
𝕎𝕙𝕥𝕤𝕒𝕡𝕡𝗠𝔼➕𝟙⤈5𝟠5⤈𝟞𝟚3⤈𝟢𝟙33⤈𝗞𝗲𝘆𝗜𝗻𝘀𝗶𝗴𝗵 𝗧𝘀⤈
Looks like we misunderestimated Iran.