Yesterday, the White House released its FY2007 mid-session budget review with great fanfare, celebrating its projection that the deficit will be nearly $300 billion this year.
Buried within the mid-session review, the White House reveals that it will ask Congress for another $110 billion for the wars in Iraq and Afghanistan early next year. From the document:
In 2007, to fund the anticipated additional costs of operations in Iraq and Afghanistan, this Mid-Session Review assumes an additional $60 billion in budget authority will be needed later in the fiscal year, for a total allowance of $110 billion. This update also provides a $50 billion allowance for a portion of additional costs anticipated in 2008 for the Global War on Terror.
So far, the U.S. government has allocated $311 billion total to support U.S. stabilization and reconstruction efforts in Iraq.
If you add together the amounts already allocated, plus the appropriations expected to be approved this year ($116 billion) and next year, the total spending for Iraq will soon exceed $400 billion.