Pentagon: Iraq Operations Costing $7.5M a Day

U.S. military operations against Islamic State in Iraq have cost an average of $7.5 million per day since they began in mid-June, the Pentagon said on Friday, a figure that means the department may have spent about $500 million since it became involved.

"(The cost) has varied since the beginning in mid-June but on average it's costing about $7.5 million per day," said Rear Admiral John Kirby, the Pentagon press secretary. "That's based on a snapshot of the operations that have occurred as of the 26th of this month."

To date the military has conducted about 106 airstrikes against Islamic State militants who have stormed across Iraq, taking control of a large swath of the west and north.

Kirby says the costs are being paid for through the 2014 overseas contingency fund. Defense Secretary Chuck Hagel has said he has adequate funds for the operation through this fiscal year.