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Sunday, February 2, 2003 Bush Wants $500 Million for New Shuttle President Bush. Credit: NPR.org President Bush announced today that he wanted $500 million to upgrade the aging Space Shuttle program. The funds would be directed towards the development of a single-stage-to-orbit space plane. This comes after years of NASA funding cuts that may have been a contributing factor to the recent Columbia disaster. Although it is significant for boosting NASA's funding instead of lowering it, it is worth noting that the cost of a single shuttle launch is approximately $500 million...which means that this will not quite be a drop in the bucket for the $15 billion current NASA budget. Read more about where NASA could be headed in the future. This article has already correctly predicted this funding increase. (More info: CNN.com) @ 22:31 EST