The Bush administration will ask Congress to authorize an additional $120 billion in military spending to support the wars in Iraq and Afghanistan for fiscal 2007. It is likely Mr. Bush will ask for even more funds before the fiscal year is over.
If Congress approves the request, it will push the total cost of the wars in Iraq and Afghanistan well past the $400 billion mark since September 11, 2001.
According to military officials, the bulk of the $120 billion will be spent on military operations. The rest will go towards replacing lost, damaged or worn out equipment and towards training Iraqi security forces.
Thus far, the Congressional Budget Office estimates that a total of $320 billion has been spent by the Bush administration to fight in Afghanistan and Iraq.
By comparison, the administration will be requesting only $18 billion in their effort to rebuild the devastated Gulf Coast region that was severely damaged by Hurricane Katrina.
Bryan Whitman, a Pentagon spokesman, said the requests reflect the president's desire to 'commit the resources that are necessary to fight and win the war on terrorism.'