Missile Defense will cost $247 billion by 2024: CBO

Posted on: Jan. 27th, 2006 || Source: news.monstersandcritics.com | E-mail Article | Print Article

The annual cost of the Bush administration`s missile defense plans could more than double to $19 billion by 2013, and total $247 billion from 2006 through fiscal 2024, according to a recent report.

The report, 'The Long-Term Implications of Current Defense Plans and Alternatives: Detailed Update for Fiscal Year 2006,' was produced by the Congressional Budget Office and released this month as an update to a September 2004 report, the Global Security Newswire reported Tuesday. The study projected an average $13 billion per year cost for missile defense through 2024, it said.

The Bush administration requested about $8.5 billion for the program last year for the current fiscal 2006, according to the report. The annual cost should climb rapidly to $19 billion by 2013, due to major equipment purchases, before dropping significantly to about $8 billion annually by 2024, it says. All figures are in 2006 dollars.

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