CBO: Navy Could Spend $552B to Build Ships Over Next 3 Decades

NavyShipsThe Congressional Budget Office estimates that spending for new vessels specified in the U.S. Navy‘s latest shipbuilding plan would average 18.4 billion in 2015 dollars a year, or about $552 billion over the next 30 fiscal years.

CBO said Thursday its projection of the 30-year cost of the Navy’s planned shipbuilding initiatives is 10 percent higher than the military branch’s estimate.

The Navy aims to procure as many as 308 aircraft carriers, surface combatants, amphibious ships, submarines, combat logistics and support ships from 2016 to 2045.

The agency also forecasts the cost of executing the 2016 Navy shipbuilding plan to be one-third more than the branch has spent over the past three decades.

It may be difficult for the military service to implement its plan with its current funds under the Budget Control Act of 2011, CBO added.

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