Free Republic

Russian defense spending to grow 20% in 2008, to $40 bln 18:29 | 26/ 02/ 2008 MOSCOW, February 26 (RIA Novosti) - Russia's Defense Ministry will spend around one trillion rubles ($40 bln) of federal budget funds in 2008, 20% more than in 2007, a ministry official said on Tuesday. "The Defense Ministry will spend a little less than one trillion rubles in 2008, which is about 20% more than last year," Deputy Defense Minister Lyubov Kudelina said. She also said that in 2008-10, military spending would account for 15.5-16% of aggregate federal budget expenditure. She said most of the...

The Legislature has missed the deadline for adopting a 2007-08 state budget after managing to accomplish the task last summer. As in past showdowns, the media's impatience with Republicans who won't just give the Democratic majority what it wants could not be more plain. One account depicted the GOP's push for $2 billion less in spending – so the “operational” budget would balance – as a squabble over a “fraction” of state spending. We think GOP lawmakers have a very powerful argument – one that's extremely similar to those made by the nonpartisan Legislative Analyst's Office. The state's finances are...