Military Costs of Major U.S. Wars

Current-year dollars reflect prices in effect at the time of each war, and inflation-adjusted "constant dollars" reflect the same value in 2024 prices.

Notes: All estimates are of the costs of military operations only and do not reflect costs of veterans' benefits, interest on war-related debt, or assistance to allies. Except for costs of the American Revolution and the Civil War costs of the Confederacy, all estimates are based on U.S. government budget data. Current year dollar estimates of the costs of the War of 1812 though Spanish American War represent the increase in Army and Navy outlays during the period of each war compared to average military spending in the previous three years. For the Civil War costs of the Confederacy, the estimate is from the Statistical Abstract of the United States, 1994. For the American Revolution, the estimate is from an unofficial financial history of the United States published in 1895. Current year dollar estimates are converted to constant prices using estimates of changes in the consumer price index for years prior to 1940 and using Office of Management and Budget and Department of Defense estimates of defense inflation for years thereafter.
Chart: Monday Morning EconomistSource: US Naval History and Heritage CommandGet the data