McClatchy Washington Bureau | 10/09/2008 | Financial crisis could put crimp in defense spending plans
McClatchy Washington Bureau | 10/09/2008 | Financial crisis could put crimp in defense spending plans: "WASHINGTON — With the U.S. economy in crisis and military spending at its highest level since World War II, military officials and experts are worrying that America may have to start reining in defense spending.
In the fiscal year that just ended, the U.S. spent $694.2 billion on defense, up 52 percent from the 2000 defense budget in constant dollars. (That year, the department spent $292 billion.) The fiscal 2008 total includes $514.2 billion in the defense budget and another $180 billion to pay for the wars in Iraq and Afghanistan, which have been financed through so-called 'supplemental' budgets.
Eight years of borrowing to pay for the Iraq and Afghan wars, coupled with an aging baby boomer population, growing health care costs and a push to enlarge the Army, could force legislators to make tough decisions about which needs should take priority, and the next president to reassess how much the military can do."
In the fiscal year that just ended, the U.S. spent $694.2 billion on defense, up 52 percent from the 2000 defense budget in constant dollars. (That year, the department spent $292 billion.) The fiscal 2008 total includes $514.2 billion in the defense budget and another $180 billion to pay for the wars in Iraq and Afghanistan, which have been financed through so-called 'supplemental' budgets.
Eight years of borrowing to pay for the Iraq and Afghan wars, coupled with an aging baby boomer population, growing health care costs and a push to enlarge the Army, could force legislators to make tough decisions about which needs should take priority, and the next president to reassess how much the military can do."
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