The cost of the September 11 attacks Examiner.com
With the ten year anniversary of the September 11, 2001 terrorist attack on the nation just days away it seemed like a perfect time to take inventory of the economic costs and benefits associated with that day on the U.S. economy.
According to a recent article by Anne Applebaum, Opinion Writer for the Washington Post, the U.S. “created a vast security bureaucracy, encompassing some 1200 government organizations, 1900 private companies and 854,000 people with security clearances.
The majority of economists do not believe that the direct cost of the attack was that high, according to Adam Rose, coordinator for economics at USC’s National Center for Risk and Economics of Terrorism Events, apparently one of the new organizations created after 90/11, he “estimated that the attack cost to the U.S. economy was only $100 to $130 billion.”
The biggest expense for America was in the reaction to the attacks during the past ten years. We now have a new Department of Homeland Security with reporting agencies like the TSA, DNI, NCTC, CVE, NSI, ICE, TTIC, INS and more. Rose concludes that the cost of the attack on businesses and consumers was difficult to calculate because so much of what happened in the past decade, the country was in the midst of a recession when the attack took place, the real estate bubble that burst along with a financial meltdown that led to the Great Recession might have been worse because of 9/11.
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