Tag

Cbo Report

All articles tagged with #cbo report

military-and-defense26 days ago•12 min saved

Official Reports Confirm Iran War Cost $38B and Depleted US Munitions

Two new government reports confirm the Iran war has cost $38 billion and depleted critical missile stockpiles, contradicting White House claims of ample supplies. The Congressional Budget Office (CBO) links the conflict to a 0.5% rise in 2027 inflation, while the Defense Inspector General (IG) reveals 'strategic inventory shortfalls' and $184 million in diplomatic damage. President Trump and Defense Secretary Pete Hegseth dismissed these findings as 'treasonous' lies, maintaining that US stockpiles are 'virtually unlimited' despite evidence of 18 deaths and 800+ injuries.

via Responsible Statecraft|

#cbo-report #inflation #iran-war

politics27 days ago•22 min saved

CBO Report: Iran War Costs $38 Billion, Drives Inflation and Depletes Munitions

A new Congressional Budget Office (CBO) report estimates the U.S. war in Iran has cost $38 billion through August 1, with ongoing monthly costs of $2 to $3 billion. The conflict has driven inflation, depleted missile interceptor stocks, and damaged U.S. bases, while the Pentagon has not provided detailed cost data to the CBO.

via The Washington Post|

#cbo-report #defense-budget #inflation

national27 days ago•6 min saved

Pentagon Funds Iran War from Base Budgets as Congress Withholds $67B Supplement

The U.S. military is funding Operation Epic Fury against Iran using base budgets for training and maintenance, as Congress has not approved a dedicated appropriation. The Congressional Budget Office estimates the war has cost $38.1 billion through August 1, with monthly costs of $2-3 billion. The Pentagon’s inspector general reported $33.4 billion in costs through June 30, excluding infrastructure repairs. The White House requested $67.1 billion in supplemental funding, but only $42.3 billion is directly related to the conflict. The war has depleted missile stockpiles, damaged hundreds of military and diplomatic buildings, and resulted in at least 18 U.S. service member deaths. Critics argue the administration is hiding costs and neglecting military modernization, while the Pentagon disputes claims of munitions shortages.

via The Center Square|

#cbo-report #congressional-oversight #iran-war

politics27 days ago•2 min saved

House passes third Iran war powers resolution as CBO report reveals $38bn cost and missile shortages

The US House voted 220-204 for the third time to end the war in Iran, following a Congressional Budget Office report showing the conflict has cost at least $38bn and depleted missile stockpiles. While the resolution lacks legal force and faces a likely presidential veto, it signals growing bipartisan frustration ahead of midterm elections.

via The Guardian|

#cbo-report #congress #iran-war

defense2 months ago•206 min saved

Trump-class battleships could cost a staggering $275B, sparking shipyard capacity concerns

The Congressional Budget Office says the Navy’s plan to build 15 nuclear-powered “Trump-class” battleships would cost about $275 billion, with initial ships around $23.4 billion and later ones near $18 billion each, pushing up the service’s procurement budget and highlighting potential capacity, delay, and strategic questions about spending that much on a single, heavily armed platform amid growing drone and missile capabilities.

via cnn.com|

#cbo-report #defense #defense-budget

economy1 year ago•4 min saved

Trump's Tariffs Could Reduce US Debt by $4 Trillion, CBO Reports

President Trump claims that his tariffs will reduce the US federal debt by $4 trillion over a decade, based on a CBO report, but this figure is subject to many caveats including economic impacts, legal challenges, and policy changes. The tariffs have already generated significant revenue but also pose risks to the economy and consumer prices, with future effects uncertain.

via CNN|

#cbo-report #economy #federal-debt

economy2 years ago•2 min saved

2024 Economic Outlook: Job Losses, Inflation, and a Soft Landing

A Congressional Budget Office (CBO) report warns that millions of Americans will lose their jobs in 2024, projecting a rise in the unemployment rate from 3.9 percent to 4.4 percent by the end of the year. The report attributes the expected job losses to weaker consumer spending, lower nonresidential investment, and reduced exports, outweighing the positive effects of higher government spending and lower taxes. The Federal Reserve has a similar outlook, predicting slower GDP growth and an increase in the unemployment rate. The CBO suggests that the Fed may respond to the weakening economy by cutting interest rates.

via Mint|

#cbo-report #economic-outlook #economy