CBO: 2003 Defense Spending Lower than Projected

By Thomas Duffy / August 11, 2003 at 5:00 AM
The Congressional Budget Office says defense spending through the end of fiscal year 2003 should be about $18 billion lower than CBO estimated just a month ago. Less money for the Pentagon, coupled with lower spending projections for international affairs and the Homeland Security and Agriculture departments, lowered CBO's estimates for the federal deficit in FY-03 to $401 billion -- $54 billion less than an estimate issued in July. In a July budget review issued Aug. 8, CBO said, "defense...

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