Pentagon procurement costs to grow by $US36bn

The US Congressional Budget Office recently projected that higher costs for weapons systems and health care will increase the Pentagon budget by $US40 billion over the next five years, while procurement costs will grow by $US36 billion.

The projections come at a time when President Obama and US lawmakers are looking to cut military spending.

The new projection of $US594 billion in spending for 2016 is $US25 billion higher than the Pentagon’s estimates.

The report projects that military personnel costs over the five-year period will grow by $5 billion.

Read more here.