President Biden’s administration called for a historic larger budget for military spending for the fiscal year 2023, as it includes $813 billion, a four percent increase of $31 billion from the spending bill signed into law earlier this month. However, the defense budget of the federal government still focused on U.S. rival China as the key strategic challenge, with a focus on strengthening European security considering the risk amid Russian aggression in Ukraine.
Biden’s government budget proposal for the fiscal year 2023 increases further military spending as Russian aggression in Ukraine rages on and seeks stricter gun regulation and a new tax provision to target billionaires. It includes $813 billion in spending for national defense. pic.twitter.com/WvC4rwwXYV
— Live News Now (@LiveNewsNow6) March 29, 2022
The proposal of the Biden government includes $773 billion in funds, particularly for the Pentagon in 2023. Congress is expected to boost that number higher; just it did in the current fiscal year spending package. GOP leaders instantly responded to the budget announcement from the Pentagon by arguing it was not enough for the United States military in the face of the Russian invasion of Ukraine and Chinese military investment.
Likewise, liberal Democrats slammed the Biden government to ramp up the country’s defense budget. On the other hand, Pentagon said that the 2023 budget proposal was finalized before the Russian aggression, the federal defense budget recognizes the severe threat from Russia. It further noted that Russia is pursuing an economic, military, and political strategy to fracture NATO.
$3.6 Billion Supplemental Funding Bill for Ukraine
Last month, in the fiscal year 2022 spending bill passed, Congress approved a $3.6 billion additional funding bill to provide security aid to Ukraine and help resupply the people in the country with weapons. It is virtually impossible to predict how long the war between Ukraine and Russia will last. Therefore, it isn’t easy to know whether the United States will provide further security assistance to Ukraine.
Source: Web
More security assistance bills for Kyiv would also need congressional action. On Monday, Michael McCord, the comptroller of the Pentagon, suggested press that further supplemental for Ukraine was likely later this year. The White House estimates the budget proposal would cut the federal deficit by over $1 trillion during the upcoming ten years.
Today, @POTUS released a budget outlining his vision to expand on the progress we’ve made in a fiscally responsible way — cutting deficits, improving our country’s long-term fiscal outlook, and growing our economy from the bottom up and middle out.
— The White House (@WhiteHouse) March 28, 2022
About Budget
The budget raises funds for the European Deterrence Initiative of the Pentagon by $360 million for $4.2 billion. The defense officials said that budget dialogs between the White House and Lloyd Austin, the Defense Secretary coalesced about the $773 billion early on. In addition, the budget would benefit the biggest United States defense contractors such as General Dynamics Corp, Northrop Grumman Corp, Lockheed, and Raytheon Technologies Corp.
The overall troop levels of the United States Army are poised to drop by around three thousand. Moreover, the Navy proposes withdrawing twenty-four ships, including five cruisers and nine littoral combat ships. The Pentagon only plans to acquire sixty-one F-35 jets in the air, compared to eighty-five bought last year. The U.S. Air Force is also proposing the retirement of A-10 fighter jets and F-22 fighter planes.
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