Beijing, Dec 30 (IANS): The foreign policy of the United States is not concerned with the well-being of its citizens and is an immense waste of wealth, an article of the Pearls and Irritations, a journal platform in Australia, has argued.

Noting that U.S. foreign policy has been "hacked by big money," Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University in the United States, wrote in the article titled "U.S. foreign policy is a scam built on corruption" that "the American people are losing big," Xinhua news agency.

"The failed wars since 2000 have cost them around 5 trillion U.S. dollars in direct outlays, or around 40,000 dollars per household," Sachs said, adding that the costs continue to mount.

U.S. military-linked outlays in 2024 will come to around 1.5 trillion dollars, or roughly 12,000 dollars per household, if direct Pentagon spending, the budgets of intelligence agencies, the budget of the Veteran's Administration, the nuclear weapons program, military-linked "foreign aid" and other security-related budget lines are added, he noted.

Americans must overhaul the broken, corrupt and deceitful foreign policy of their government, the U.S. scholar said.