CBO: Defense Spending Up 17 Percent in 2003

By Thomas Duffy / August 26, 2003 at 5:00 AM
The Congressional Budget Office said today that defense spending through fiscal year 2003 is up 17 percent over 2002, with the increase making up the fastest growing piece of discretionary spending in the federal budget. In a 10-year budget forecast released today, CBO said 2003 defense spending is expected to rise by $58 billion, nearly half of which is tied to the war in Iraq and continuing operations in the war on terrorism. Spending on defense for 2003 is estimated...

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