Bush's target funds for Iraq will swell US budget deficit [View All]

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http://story.news.yahoo.com/news?tmpl=story&u=/afp/20030908/ts_afp/us_iraq_afghanistan_bush_030908120006

WASHINGTON (AFP) - The additional 87 billion dollars US President George W. Bush (news - web sites) is seeking to finance military operations and reconstruction in Iraq (news - web sites) and Afghanistan (news - web sites) could push the country's budget deficit to a historic record, well beyond 500 billion dollars.


"Our strategy in Iraq will require new resources. We have conducted a thorough assessment of our military and reconstruction needs in Iraq and also in Afghanistan. I will soon submit to Congress a request for 87 billion dollars," Bush declared in a rare prime-time speech delivered from the White House late Sunday.


The administration gave no details of how it intended to finance the extra spending. But since Bush has made tax cuts a cornerstone of his attempts to revive the ailing US economy, he can hardly turn to US taxpayers to foot the bill.


He could try to skim funds for his war efforts from other parts of the budget. But it will be a difficult pill for the US public to swallow and an unlikely choice as the president heads into an election year.

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