CBO Says Defense Budget Should Be $340B.

The Congressional Budget Office (CBO) has released a report regarding current military threats to the United States in accordance with its existing national security strategy, and provided an estimated cost of maintaining today's military forces to combat those threats.

The report suggests the only foreign powers who potentially rival the United States are Russia and China. The Chinese People's Liberation Army has approximately two million troops, making it the largest army in the world, but its weapons are thought to have been developed in the 1950s and 60s and are thereby inferior to those of the United States. Likewise, Russia's weapons are inherited from the former Soviet Union, and are thought by most defense analysts to be in poor condition.

The CBO also stated that the most worrisome, and potentially, the most costly threats, may be those that present unconventional danger to the U.S., such as tactical nuclear, biological, chemical and cyber threats.

The estimate for a sustaining budget for national defense is $340 billion. In comparison, the fiscal year 2000 appropriation was $289 billion. The $340 billion represents the amount of funding required to keep the forces in a "steady state." CBO estimated the needed funds to increase military personnel pay to make it comparable to private sector salaries. Also, the estimators took into account the need to replace aging weapons and equipment at a rate consistent with projections of their service lives, providing funding for research and development, and repairing and replacing existing military housing and facilities as needed.