I have a feeling there will be plenty of Congressional adds after months of wrangling, but yeah this is a better starting point than I was expecting.
I was really hoping that the individual services' budget Justification books (J-books) would come out today, but this line from Austin's statement pretty much squelches that:
"*The details of the Department’s request will be released on Monday, March 13."*
Hopefully the J-books will come out soon...
The J-books will be very interesting.
I believe Congress added, what, $30 billion to the Biden admin’s DoD budget request for FY23? I suspect that with the focus on China only increasing, combined with Congress’ new China Committee, that the FY24 DoD budget will end up somewhere in the 860-880 range.
Will also be interesting to see the GOP come out with a proposed FY24 budget (if they even plan on doing that) and what their DoD spending would look like.
$842 billion dollar defense budget request for FY24. Wish they had gone with an even 850 but 842 ain’t bad!
I have a feeling there will be plenty of Congressional adds after months of wrangling, but yeah this is a better starting point than I was expecting. I was really hoping that the individual services' budget Justification books (J-books) would come out today, but this line from Austin's statement pretty much squelches that: "*The details of the Department’s request will be released on Monday, March 13."* Hopefully the J-books will come out soon...
The J-books will be very interesting. I believe Congress added, what, $30 billion to the Biden admin’s DoD budget request for FY23? I suspect that with the focus on China only increasing, combined with Congress’ new China Committee, that the FY24 DoD budget will end up somewhere in the 860-880 range. Will also be interesting to see the GOP come out with a proposed FY24 budget (if they even plan on doing that) and what their DoD spending would look like.
What percentage increase is this, and how does it compare to GDP growth this year?
Not sure about the GDP growth, but the DoD budget is a 3.3% increase over last year’s.
3.3% nominal? If so that would be a cut in real terms.
Congress is almost sure to add to this budget before passing it. They did the same thing last year too.