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Feb 04,2008
Pentagon set to submit $515.4B budget
by UPI

WASHINGTON - The Pentagon reportedly will submit a $515.4 billion 2009 budget, the highest level of U.S. defense spending since World War II adjusting for inflation.

The budget to be unveiled Monday would pay for regular defense operations, but does not include funding for the wars in Iraq and Afghanistan, The New York Times reported Sunday.

Congress has already approved more than $600 billion in supplemental spending for the wars and for counterterrorism operations.

The new level of Pentagon spending represents an increase in real terms of about 5 percent over last year's spending, the Times said. However, growth in defense spending has not kept pace with overall U.S. economic growth, the newspaper said -- and spending for regular Pentagon operations and the for the wars account for a smaller percentage of the gross domestic product than in previous wars, the report said.

The United States spent about 14 percent of the national economy during the Korean War and about 9 percent during the Vietnam War. Spending on normal Pentagon operations, nuclear weapons and supplemental war costs combined account for just over 4 percent of the current economy, budget experts told the Times.


© 2008 United Press International. All Rights Reserved.

601 times read

Related news
How much is enough? by the St. Louis Post-Dispatch posted on Jan 25,2008

Too much for defense, or not enough? by Robert_J_Caldwell posted on Feb 09,2007

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Iraq war hobbling U.S. budget debate by UPI posted on Dec 18,2007

Congress sends budget to Bush by UPI posted on Dec 20,2007

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