http://www.khaleejtimes.ae/DisplayArticleNew.asp?col=§ion=theworld&xfile=data/theworld/2006/December/theworld_December507.xmlWASHINGTON - US costs for the Iraq war will exceed $110 billion this fiscal year, approaching the record reached in the prior fiscal year, a top White House official said on Tuesday.
That amounts to more than $2 billion a week spent on the war.
White House budget director Rob Portman, speaking at a round-table with reporters, also predicted that strong revenue growth would help bring down the overall US budget deficit, offsetting some of the spending on Iraq.
Asked if he thought the deficit for fiscal year 2007, which began Oct. 1, would come in below the forecast of $339 billion the White House gave in its mid-year budget snapshot in July, Portman replied, “Yes, I do.”
The White House previously had pencilled in an estimate of $110 billion for Iraq war costs in the 2007 fiscal year.
“That number will end up being low,” Portman said.