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

The 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.