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Iraq War to Cost $110bn to U.S.
The Iraq war will cost $110 billion to the U.S. taxpayers this year, said White House Budget Director Rob Portman, Reuters reported. The growth in the GDP will positively affect the budget, offsetting the higher costs of the war, Portman made clear.
Portman said the budget deficit for the fiscal year 2007 could be below the forecasted $339 billion dollars.
The overall costs for the Iraq war will exceed $500 billion by 2009, experts of the Senate’s budget committee concluded in July, making the calculation based on the Pentagon plans to reduce the troops from 190,000 to 140,000 by late 2006 and to pull out by 2009.
The costs will reach $700 billion, if no reduction happens in the nearest years and 40,000 remain in Iraq in a decade.
The war in Iraq has cost between $300 billion to $400 billion to the United States starting from 2003, twice as much as the ceiling set by the White House in 2003.
www.kommersant.com
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