{"id":1190704,"date":"2023-03-11T07:10:12","date_gmt":"2023-03-11T12:10:12","guid":{"rendered":"https:\/\/bugaluu.com\/news\/military-budget-for-2024-to-close-in-on-1-trillion-mark\/1190704\/"},"modified":"2023-03-11T07:10:12","modified_gmt":"2023-03-11T12:10:12","slug":"military-budget-for-2024-to-close-in-on-1-trillion-mark","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/military-budget-for-2024-to-close-in-on-1-trillion-mark\/1190704\/","title":{"rendered":"Military Budget For 2024 To Close In On $1 Trillion Mark"},"content":{"rendered":"
\"\"<\/a><\/div>\n

Military Budget For 2024 To Close In On $1 Trillion Mark<\/span><\/p>\n

\n

Authored by Dave DeCamp via AntiWar.com,<\/em><\/a><\/p>\n

The White House is asking Congress<\/a>\u00a0for a whopping $886.4 billion military budget\u00a0for the fiscal year 2024<\/strong>, with $842 billion of it going to the Pentagon. The rest would go toward other federal agencies\u2019 military spending, including the Energy Department\u2019s nuclear weapons program.<\/p>\n

The 2024 National Defense Authorization Act will likely be much higher than the White House request <\/strong>as Congress added tens of billions to the previous two military budgets. For 2023, President Biden requested $813 billion, but Congress added $45 billion, bringing the finalized NDAA\u00a0to $858 billion.<\/a><\/p>\n

Congress could easily bring the 2024 NDAA to over $900 billion, closing in on the $1 trillion mark. The NDAAs don\u2019t include the funds authorized for the Ukraine war, which could add another $100 billion<\/strong> if the US keeps spending on the conflict at the same pace.<\/p>\n

In a statement on the request, Secretary of Defense Lloyd Austin said the funds were needed to confront China<\/strong>, which the Pentagon has identified as its top priority.<\/p>\n

“The President\u2019s budget request provides the resources necessary to address the pacing challenge from the People\u2019s Republic of China, address advanced and persistent threats, accelerate innovation and modernization, and ensure operational resiliency amidst our changing climate,” Austin, a former Raytheon board member,\u00a0said in a statement.<\/a><\/p>\n

According to\u00a0Responsible Statecraft<\/a><\/em>, more than half of the budget\u00a0will likely go to defense contractors<\/strong>, with Lockheed Martin, General Dynamics, Boeing, Northrop Grumman, and Raytheon getting the biggest chunk.<\/p>\n

\n

We may be looking at $1 trillion in defense spending for the first time ever\u2014this is madness.<\/p>\n

NEW @WilliamHartung<\/a> in @RStatecraft<\/a> on Biden\u2019s whopping $886B defense budget request https:\/\/t.co\/Nu3FnXxFy8<\/a> pic.twitter.com\/WpUaTirSno<\/a><\/p>\n

\u2014 Quincy Institute (@QuincyInst) March 9, 2023<\/a>\n<\/p><\/blockquote>\n

The budget\u00a0includes<\/a> $170 billion for weapons procurement\u00a0and $145 billion for the research and development of new arms. “We may be looking at $1 trillion in defense spending for the first time ever\u2014this is madness,” Responsible Statecraft<\/em> writes.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 03\/11\/2023 – 11:30<\/span><\/p>\n

From:Zerohedge<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Military Budget For 2024 To Close In On $1 Trillion Mark Authored by Dave DeCamp via AntiWar.com, The White House is asking Congress\u00a0for a whopping…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1190704","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1190704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1190704"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1190704\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1190704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1190704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1190704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}