Cost of Libyan war could wipe out GOP budget cuts

This shows how pitifully small the GOP's cuts in the $1.5 trillion deficit are. The Hill: U.S. military operations in Libya could wipe out a significant chunk of the budget cuts won by congressional Republicans in recent weeks, defense analysts say. GOP leaders have trumpeted enacted spending reductions that amount to more than $285 million per day since the beginning of March. But defense analysts say the Pentagon could be burning through more than $100 million per day in Libya, putting those budget savings at risk. In separate briefings on Monday, the Defense Department and the White House said they do not yet have a projected price tag for the military action that began on Saturday. Defense officials said they are still "collecting" and analyzing early costs.With Congress determined to rein in federal spending, the cost of the U.S. intervention is sure to become a top concern on Capitol Hill. Dick Lugar has already raised the issue as part of the reason he is opposing the...(Read Full Post)