- Feb 16, 2009
U.S. president to seek $3.606 trillion for first budget
War in Iraq, Afghanistan & the financial bailouts may be the reason for this huge figures.WASHINGTON, Feb. 26 (Xinhua) -- U.S. President Barack Obama is expected to propose a budget of 3.606 trillion U.S. dollars for fiscal year 2010 on Thursday in an attempt to pull the U.S. economy out of a recession.
In his first budget blueprint to Congress, the president expects that the costs of the Iraq and Afghanistan wars will total just over 140 billion dollars this year. The costs for the two wars will decline to 130 billion in the 2010 fiscal year.
Annual costs for the war will drop sharply after that, to 50 billion dollars annually beginning in 2011, the budget will show.
He also requested as much as 634 billion dollars for health care reforms over the next 10 years.
Obama also has asked for an additional 250 billion dollars to be set aside if needed to bail out the U.S. financial system.