WASHINGTON: The Pentagon is expected to receive its highest budget figure for fiscal year 2023 between $770 and $780 billion, as the Biden administration prepares to deploy the largest defense budget in U.S. history, according to a budget-savvy source.
Reuters on Wednesday report the Department of Defense’s budget will “be in excess of $770.” The source told Breaking Defense that eventual profits will likely be in the range of $770 to $780 billion, with total national security spending expected to be in the range of $800 to $810 billion. However, the final dollar figures could change until they are pegged, especially given the complicated situation with Russia and Ukraine.
The second number, known as money 050, includes the Pentagon, the Department of Energy’s nuclear weapons programs, and smaller sums from the Department of Homeland Security, the FBI and others. The money entirely for the DoD is called $0.51.
The source said the Pentagon “got what it wanted” from the White House Office of Management and Budget with a top 051, noting that the money should be enough to cover possible shortfalls. has increased in the last year and counts the fact that Congress has increased the amount of defense spending for fiscal year 22 in its negotiations.
Given the rising inflation rate, the situation in Ukraine, and the fact that Congress acted aggressively to increase defense spending last year, it’s no surprise that the DoD budget has grown over the year required. finance is 715 billion USD. But the jump – up about 10% from last request – will likely come as a shock to those who expect the Biden administration to keep defense spending steady, if not reduce it, after it goes in. term.
Where that budget increase will go is still unclear, but in a new analysis for Breaking Defense, a budget expert at the American Enterprise Institute, Mackenzie Eaglen, analyzed five key areas she’s looking forward to. Expect to see from the department when it finally publishes its budget documents. , including focusing dollars on short-term R&D programs and moving money from readiness to filling budget gaps.
Meanwhile, retired military budget official John Ferrari, also with AEI, thinks more increases are needed.
https://breakingdefense.com/2022/02/770-780-billion-likely-for-pentagon-budget-topline-source/ $770 – 780 billion likely to be spent on the Pentagon budget: Source – Breaking Defense Breaking Defense