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Letter to the Honorable Gene Taylor: Resource Implications of the Navy's Fiscal Year 2009 Shipbuilding Plan [i] (June 2008)

handle is hein.congrec/cbo10038 and id is 1 raw text is: June 9, 2008 Honorable Gene Taylor Chairman Subcommittee on Seapower and Expeditionary Forces Committee on Armed Services U.S. House of Representatives Washington, DC 20515-6035 Dear Mr. Chairman: In response to your request, the Congressional Budget Office (CBO) has assessed the long-term resource implications of the Navy's recently reported shipbuilding plan for fiscal year 2009. CBO's analysis of that plan and of information from the Navy about specific ship programs indicates the following: Executing the Navy's most recent 30-year shipbuilding plan would cost an average of about $27 billion a year (in 2009 dollars), or more than double the $12.6 billion a year that the Navy has spent, on average, since 2003. (Unless otherwise indicated, the cost figures presented in this letter are expressed in billions of 2009 dollars of budget authority, and years denote fiscal years.) Since CBO testified on this topic on March 14, the Navy provided additional information that led CBO to increase its estimate of the annual cost of the shipbuilding plan from $25 billion to $27 billion. After releasing its 2009 report, the Navy discovered a calculation error that caused the costs initially reported in the 2009 plan to be about 10 percent higher than the Navy now expects them to be. After correcting for that error, the Navy's estimate of the costs of implementing its 30-year shipbuilding plan is about 10 percent less than the estimates that CBO has prepared during the past three years. The Navy's 2009 budget request appears to depart from all of the budgetary assumptions used to develop the service's 2007 and 2008 shipbuilding plans.

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