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Wednesday, May 26, 2010

New Navy Sub May Cost $1 Billion More, CBO Says

Ohio-classThe Navy’s new nuclear-missile submarine could cost on average about $1 billion more than the service projects, according to congressional budget analysts.

Each submarine could cost about $8.2 billion, or almost 14 percent more than the Navy’s estimate of $7.2 billion, the Congressional Budget Office said.

The first ship of the class -- typically the most expensive -- could run as high as $13 billion, or $4 billion over the Navy estimate, the nonpartisan agency said in a report released today.

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