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It’s Downhill After 2014

January 24, 2006—According to the latest Congressional Budget Office math, spending for development and procurement of weapons systems will peak in 2014 at about $193 billion, rivaling spending at the height of the Reagan “boom” in the mid-1980s. (All measured in Fiscal 2006 dollars.) Spending would then decline, dropping by 2024 to around $150 billion. CBO caveats this projection, though, saying it is based on zero growth in the cost of weapons systems. All may change with the early February release of the 2007 budget and the Quadrennial Defense Review.

Source: Congressional Budget Office, “The Long Term Implications of Current Defense Plans and Alternatives: Detailed Update for Fiscal Year 2006.”