Biden's meager 1% US defense budget increase buys fewer ships, jets
Story by Mike Stone • 2d •
WASHINGTON, March 11 (Reuters) - President Joe Biden's overall U.S. defense and national security budget request expected on Monday will be just 1% higher than last year, forcing a slowdown in spending on a wide range of programs and delaying efforts to rebuild weapons stocks depleted by wars in Ukraine and Israel.
The $895 billion national security budget request, which includes funds for homeland security as well as nuclear weapons-related activities carried out by the Department of Energy, is the result of a two-year budget deal struck in mid-2023 that limited the budget to a 1% increase.
Under the cap, the Pentagon's share of the national defense budget was expected to be $850 billion. The $30 billion reduction to the Pentagon's funding will curb purchases of the stealthy F-35 jet made by Lockheed Martin and air defenses for Guam, and will delay programs, including slowing orders for an aircraft carrier made by Huntington Ingalls Industries and Virginia-class submarines made by Huntington and General Dynamics.
The Pentagon was expected to also trim costs by retiring older weaponry like ships and planes that are more expensive to operate.
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