U.S. CBO estimates $2.4 trillion long-term war costs
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The U.S. wars in Iraq and Afghanistan could cost taxpayers a total of $2.4 trillion by 2017 when counting the huge interest costs because combat is being financed with borrowed money, according to a study released on Wednesday.
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The wars in Iraq and Afghanistan could cost as much as $2.4 trillion through the next decade, the nonpartisan Congressional Budget Office said Wednesday. The White House brushed off the analysis as "speculation."
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The U.S. budget deficit will hit  $368 billion this year even before war costs are added, the  Congressional Budget Office said on Tuesday, and analysts said  the number shows it would be hard for President Bush to keep  his promise of halving the gap in five years.
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U.S. military spending may soon hit post-World War II highs in real terms, but analysts expect this to mark the end of an 11-year buildup no matter who wins the White House in November.
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The Bush administration, faced with  a growing insurgency and record fuel costs, plans early next  year to seek $60 billion to $75 billion in emergency funding  for military operations in Iraq and Afghanistan, administration  and congressional officials said on Tuesday.
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The Bush administration will ask the Congress next week for $70 billion to fund the wars in Iraq and Afghanistan and related operations for part of the 2009 fiscal year, the Pentagon said on Monday.
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President Bush will seek $419.3 billion for the Defense Department in the fiscal year that begins this October, a 4.8 percent increase over this year's spending, not counting the cost of war in Iraq and Afghanistan, according to a Defense Department document obtained by The Washington Post.
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The Pentagonâs proposed budget of $515.4 billion represents the highest annual military spending, when adjusted for inflation, since World War II.
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The Bush administration will ask Congress next week for $70 billion to fund the wars in Iraq and Afghanistan and other related operations for part of the 2009 fiscal year, the Pentagon said on Monday.
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The long-term economic health of the United States is threatened by $53 trillion in government debts and liabilities that start to come due in four years when baby boomers begin to retire.
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As Congress started to digest a new Bush administration request of &#36;80 billion to bankroll wars in Iraq and Afghanistan, its top budget analyst on Tuesday projected &#36;855 billion in deficits for the next decade even without the costs of war and President Bush's Social Security plan.
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The wars in Iraq and Afghanistan will cost U.S. taxpayers hundreds of billions of dollars over the next decade, no matter how quickly U.S. troops are reduced in those countries over the next few years, according to a report released this week by the Congressional Research Service (CRS).
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President Bush asked Congress on Saturday for $3.2 billion to pay for at least 4,000 extra combat support troops and military police forces that commanders told the president they need in Iraq.
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The Bush administration will ask the U.S. Congress next week for $70 billion to pay for the wars in Iraq and Afghanistan and related operations for part of the 2009 fiscal year, the Pentagon said on Monday.
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The White House has approved a fiscal 2008 budget request of $468.9 billion for the Pentagon, $4.7 billion more than expected last year, according to a memorandum obtained by Reuters.
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The White House will project that this year's federal deficit will hit &#36;427 billion, a senior administration official said Tuesday, a record amount partly driven by wars in Iraq and Afghanistan.
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The Iraq war may not dominate U.S. news reports as the carnage drops, but a new report underscores the financial burden of persistent combat that is helping run up the government's credit card.