Thursday, February 26, 2009

Obama to spend $200b on war in 2009

Obama to spend $200b on war in 2009

President Barack Obama intends to ask the US Congress for more than USD 200 billion to cover the country's war spending.

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According to the US defense officials, Obama needs USD 75.5 billion for 2009 to cover the cost of the additional troops deployed in to Afghanistan this year and an another USD 130 billion for the rest of fiscal 2009.

Meanwhile, the sources added that the 2010 War spending will be part of the president's overall defense funding request to be announced on Thursday.

The war spending request will be in addition to USD 534 billion for the US Defense Department's other expenditures.

The US Congress had already approved USD 65.9 billion in emergency wartime spending for fiscal 2009.

This is while late December, the Center for Strategic and Budgetary Assessments (CSBA) reported that the direct cost of the wars in Iraq and Afghanistan could reach as high as USD 1.7 trillion by 2018 even with fewer troops in Iraq.

The CSBA report found that the war in Iraq alone has already cost more in inflation-adjusted dollars than every other US war except World War II.

The cost of sending a single soldier to fight for a year in Afghanistan or Iraq is about USD 775,000 - three times more than in other recent wars, the report said.

The report concluded that the nearly USD 1 trillion already spent is only a down payment on the war's long-term costs.

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