Today, Sen. John McCain (R-AZ) provided a memorandum on his budget plan to the Washington Post. The plan calls for $150 billion in savings in 2013 “consistent with success in Iraq/Afghanistan.” The Wonk Room notes, however, that these savings are “only possible” with a “massive withdrawal” from Iraq:
First, U.S. spending in Iraq and Afghanistan totaled $171 billion in 2007, according to the Congressional Budget Office – and that includes money for Iraqi security forces, foreign aid, and veterans benefits. If current policies continue – and spending grows with inflation – the war might cost $200 billion in 2013. Cutting the cost by three-quarters, especially when other costs (like veterans benefits and foreign aid) will remain, would require a sharp, perhaps nearly complete withdrawal of troops. The numbers from CBO look even worse. According to CBO, rapidly reducing the number of troops in Iraq and Afghanistan to 30,000 would save only $55 billion in 2013.
Sen. Barack Obama’s (D-IL) more aggressive plan to withdraw forces from Iraq will save only $90 billion a year, according to his campaign. The Washington Post notes that McCain’s budget plan is “not credible.”
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