Bush Administration Underestimated War Costs by $12.3 Billion - GAO

WASHINGTON -- A congressional report found that the Bush administration underestimated war costs by $12.3 billion. The report by Congress' investigative arm found that the Defense Department has been forced to shift funds from other uses, including pushing expenses from the 2004 fiscal year into 2005, in a move likely to boost war costs further down the line. "Analysis ... suggests that anticipated costs will exceed the supplemental funding provided for the war by $12.3 billion for the current fiscal year," the report by the Government Accountability Office (GAO) said. Posted by Editor at July 22, 2004 05:36 AM