Global military spending hits $1.2 trillion: study
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Global military spending rose 3.5 percent last year to $1.2 trillion as U.S. costs for operations in Iraq and Afghanistan mounted, a European research body said on Monday in an annual study.
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The U.S. Air Force needs nearly 20 percent more funds than in its current budget of more than $115 billion to buy in economic quantities, the service's top civilian said Monday.
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Tokyo has the sixth largest military budget in the world -- and some killer toys to show for it
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The White House plans to shift $3.2 billion in defense spending -- partly from new weapons like the Lockheed Martin Corp. F-35 Joint Strike Fighter -- to support troops in Iraq and Afghanistan, a trade publication reported on Monday.
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The US is rolling out a nine-country, $125 million military training program.
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The United States will spend more than $500 billion on security this year, a high-water mark that is creating boom times in the armaments industry.
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President Bush will ask Congress for close to three-quarters of a trillion dollars in defense spending on Monday, including $245 billion to cover the cost of fighting in Iraq and Afghanistan and other elements of the "global war on terror," senior administration officials said yesterday.
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WASHINGTON - The wars in Iraq and Afghanistan could cost as much as $2.4 trillion through the next decade, the nonpartisan Congressional Budget Office said yesterday. The White House brushed off the analysis as "speculation."
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A US company has received more than $1bn in funding to build prototype unmanned fighter aircraft for the American military.
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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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First there's $784 billion for defense, and that's just the beginning.
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Boeing Co. , the world's top-selling plane maker, forecast that 28,600 new aircraft worth about $2.8 trillion will be bought over the next 20 years on the back of rising demand for passenger travel and air cargo.
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President Bushâs $3.1 trillion budget would increase military spending and curb the growth of Medicare and Medicaid but raise the federal deficit by nearly $250 billion.
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Britain's 20 biggest military procurement projects ran 1.7 billion pounds (3.2 billion dollars, 2.5 billion euros) overbudget in 2003, the National Audit Office said.
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The U.S. military plans to significantly expand and accelerate its counterinsurgency training and provision of equipment for Pakistan's armed forces this year as part of a five-year, $2 billion U.S.-Pakistani effort to help stabilize the country, senior U.S. and Pakistani officials said.
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BEIJING -- China announced yesterday that it will increase military spending at a sharply higher rate this year, budgeting a rise of nearly 18 percent, and a senior US official immediately called for clarity on the planned expenditures.
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President Bush's 2008 budget request includes $624.6 billion in defense spending and marks the first time he has offered an estimate of how much the wars in Iraq and Afghanistan will cost a year in advance.