Reply #25: Budget Chief Portman Says War to Cost $365 Billion Over 3 Years [View All]

[54anickel]

http://www.bloomberg.com/apps/news?pid=20601087&sid=axeClXzWQY8Y&refer=worldwide

Feb. 4 (Bloomberg) -- White House Budget Director Rob Portman defended President George W. Bush's plan to spend $365 billion on the wars in Iraq and Afghanistan over the next three years, saying it won't hinder the administration's goal for balancing the budget.

Giving a preview of the 2008 budget proposal Bush will submit to Congress tomorrow, Portman deflected criticism over the money being poured into the Iraq war and the wider battle against terrorism.

``Even with these expenditures, which are very important, and including expenditures to protect the homeland, we still have seen a reduction in our deficit the last couple of years by a substantial amount,'' Portman said on CNN's ``Late Edition'' program today.

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The administration projects about $170 billion in war spending in 2007, $145 billion in 2008 and $50 billion in 2009. Congress has approved a total of $507 billion for such spending since the Sept. 11 terrorist attacks.

The $145 billion projection for 2008 assumes ``that the Iraq military operations will continue pretty much as they are,'' Portman said. ``We, of course, hope that that's not the case.''

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