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Although the president's speech Monday was billed as the formal unveiling of the plan, most of the details had been reported in June, after the proposal was circulated among allies in Europe and Asia.
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Bush's long-expected announcement Monday was in a swing state that the White House has identified as essential to the president's re-election. The speech is part of an effort leading into this month's Republican National Convention to promote Bush's record on national security, which polls show is his greatest advantage against his Democratic competitor, Sen. John Kerry.
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How much money the plan would save is open to dispute. The Pentagon will almost certainly want to buy more long-range transport and refueling aircraft and high-speed ships if it wants to be able to send large numbers of forces overseas quickly on short notice. Some Democrats note that billions of dollars would have to be spent renovating U.S. bases to absorb the returning troops.
A May 2004 study by the Congressional Budget Office, a watchdog agency, warned, ``There would be limited annual savings to offset the large initial investment needed to re-station U.S. forces unless U.S. presence overseas was greatly reduced. In that case, annual savings could exceed $1 billion, but the net upfront investment would be substantial -- on the order of $7 billion.''