WASHINGTON (Reuters) US President Barack Obama on Monday proposed $1.2 billion in funding next year to help train and equip Pakistani security forces to fight Taliban militants. Created by Congress last year, the Pakistan Counterinsurgency Capability Fund set aside some $700 million in 2009 to train and equip the countrys army and other security forces. The US President proposed another two years of hefty spending in Iraq and Afghanistan, seeking Congress approval for about $160 billion this year and again in fiscal 2011 to pay war costs. The war spending proposed by Obama is only slightly less than in each of the last two years of the administration of President George Bush and carries considerable political peril for the Democratic president who took office in 2009. Obama announced in December he was adding 30,000 more US troops to the Afghan war effort to join the 68,000 already fighting a resurgent Taliban. To pay for this surge, Obama on Monday asked for an additional $33 billion in the current 2010 fiscal year, on top of about $130 billion that Congress has already approved for the Afghanistan and Iraq wars through Sept 30, 2010. His proposed budget will also include a request for $159.3 billion for the wars in Afghanistan and Iraq for the 2011 fiscal year that begins on Oct 1. The peak for war funding in recent years was fiscal year 2008, Bushs last year in office, when spending on war operations reached $185 billion, according to the Congressional Research Service. This was slightly more than the appropriations in fiscal 2007, which were $171b. The costs for the wars Iraq and Afghanistan has risen steeply since the attacks on the United States on September 11, 2001, but until now Iraq was the larger expense. This is the first year that more money has been allocated to Afghanistan than Iraq, according to the National Priorities Project, a non-partisan budget research group. Obamas budget released on Monday also includes a placeholder estimate of $50 billion for the year 2012 and beyond. But the administrations budget documents noted that these estimates do not reflect any policy decisions about specific military or intelligence operations. So, those decisions are yet to come. The budget includes a proposal for sharply more funding to help Afghanistans neighbour Pakistan arm, train and equip its military in the fight against extremists. Obama asks for an increase in the Pakistan Counterinsurgency Capability Fund from $700 million in fiscal 2009 to $1.2 billion next year.