Navy’s Shipbuilding Budget Is Short By $76B, CBO Says

Law360, Los Angeles (October 18, 2013, 8:19 PM ET) -- The U.S. Navy will need to spend $580 billion to fund its 30-year shipbuilding plan, or $76 billion more than it has estimated, the Congressional Budget Office said in a report released Friday. 

In an analysis of the Navy's 30-year shipbuilding plan for fiscal year 2014, the CBO said the service underbudgeted by nearly 15 percent and will be unable to meet certain inventory goals under its funding estimates. 

The Navy estimated the shipbuilding plan would cost $504 billion over 30 years, or about $17 billion per...
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