Pentagon War Budget to increase an extra $60 Billion

For those of you who hoped — or worried — that the Obama administration would mean a big cut to defense spending, think again.

The Office of Management and Budget has approved a nearly $60 billion increase in the Pentagon’s base budget between fiscal years 2011 and 2015,” InsideDefense.com reports.

That includes an extra $15 billion for the next fiscal year — “a 2.7 percent increase after inflation.