CBO has an new cost estimate of all the wars we're in. The war spending will accrue an estimated $700 billion in interest on the debt, bringing the top total estimate to $2.4 trillion. Could CBO do a "pay-for" analysis, too? Like Jason Furman did on the tax cuts? Even the Bush administration hasn't claimed that wars pay for themselves.

As noted by Matt yesterday, the Senate approved the Labor-HHS-Education appropriations bill 75-19. What next for FY 2008 appropriations? Matt takes a look in this week's The Watcher. October 17, 2007 House Senate Conf. Cmte. President Cmte. Floor $ Agriculture 18.8 18.7 $ Commerce-Justice- Science 53.6 54.6 54.6 Defense 459.6 459.6 459.6 $ Energy & Water 31.6 32.3 Financial Services 21.4 21.8 $ Homeland Security 36.3 37.6 37.6 $ Interior & Environment 27.6 27.2 $ Labor-HHS- Education 151.4

Watch What I say, Not What I Do To listen to him, Sen. John Sununu (R-NH) sounds as committed to cutting spending and the deficit as he ever has: "I think we managed the growth much more effectively in 2004 and 2005 than we had in 2001 to 2003... The fact is, liberals here in Washington want to grow the size of government at a much faster rate, at a higher rate than the Republican minority."

House Conservatives Sink SCHIP Despite a considerable lobbying campaign by supporters, House Republicans blocked an effort to override President Bush's veto of a five-year, $35 billion funding increase for the State Children's Health Insurance Program (SCHIP) that would have provided an additional 4 million uninsured children with health insurance. AMT: Prospects for Reform and the PAYGO Challenge