FEINGOLD LEADS EFFORT TO ENSURE
WE CAN PAY FOR THE ONGOING WAR IN IRAQ
Washington, D.C. U.S. Senator Russ Feingold (D-WI), along with a bipartisan group of 19 other Senators, has called for the retention of a Senate provision in the final budget resolution creating a $100 billion reserve fund to pay for the cost of the ongoing war in Iraq and the subsequent reconstruction of that country. The reserve fund is paid for by reducing the proposed tax cut.
The Senators made their request in a letter to Senators Don Nickles (R-OK) and Kent Conrad (D-ND), the Chairman and Ranking Democratic member, respectively, of the Senate Budget Committee. The reserve fund was added by a Feingold amendment during the Senate debate on the budget resolution on March 21, 2003, that the Senate adopted by a vote of 52 to 47.
The administration has told us that the war may be longer and more difficult than some have predicted, Feingold said. Clearly, we are talking about a major enterprise, and one for which we should budget. This is no time for business as usual, and the budget must reflect that.
The Congressional Budget Office estimates that the initial deployment of troops and equipment would cost $14 billion, the first month of combat would cost $10 billion, with each subsequent month of combat costing $8 billion per month. To return troops and equipment to their home bases after the war could cost $9 billion, and any post-war occupation of Iraq would cost between $1 billion and $4 billion per month.
Using these figures, and assuming that active military combat lasts for two-and-one-half months, and that the subsequent reconstruction and occupation lasts another two years, the estimated total amount spent on any conflict with Iraq would cost between $69 billion and $141 billion dollars.
The President submitted to Congress a request for $75 billion in supplemental funding for the current fiscal year to pay for the cost of the war, the letter said. Many observers, including the Congressional Budget Office, estimate that the actual cost of the war and reconstruction could be much higher. It is important that the Senate conferees stand firm on retaining the reserve fund created by this amendment. In fact, press reports indicate that the Majority Leader will support retaining this amendment during conference negotiations.
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