Thursday, June 08, 2006

House panel clears another $50 billion for Iraq (cost now at $450 Billion)

WASHINGTON (Reuters) - A U.S. House of Representatives subcommittee approved a bill on Wednesday that would give another $50 billion next year to President George W. Bush for the wars in Iraq and Afghanistan.

The House Appropriations defense subcommittee cleared a $427 billion bill to fund the Pentagon next fiscal year starting on October 1, including the additional $50 billion which was primarily for Iraq.

The subcommittee passed its bill as House and Senate negotiators put final touches on an emergency measure for about $67 billion the Pentagon wants immediately to cover the wars' rising costs.

The next $50 billion bridge fund, which lawmakers expect to cover about six months, would bring the cost of both wars to nearly $450 billion, and many expect that to reach $500 billion by the end of next year.

Sen. Robert Byrd of West Virginia, top Democrat on the Senate Appropriations Committee, said the Pentagon was spending about $8 billion a month on Iraq, where costs have climbed, and about $1 billion a month in Afghanistan.

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