Tags defense budget

Analysts pillory DOD projections for inflation, real budget growth

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The Pentagon’s inflation projections are unrealistically low and don’t accurately reflect what the Department of Defense’s purchasing power will be next year, according to analysts. The Biden administration on Monday released its fiscal 2023 budget request. The White House is asking for $773 billion for the Pentagon, including $146 billion for procurement, and $130 billion for research, development, test and evaluation. During a briefing with reporters, Michael McCord, Pentagon comptroller…

Biden's 2023 budget calls for big boost to Pentagon R&D funding

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President Joe Biden’s fiscal 2023 budget proposal, released Monday, would increase the Department of Defense’s research and development funding to an all-time high, as the U.S. military races with China to develop next-generation capabilities. The White House is asking for $773 billion for the Pentagon in the next fiscal year, $130.1 billion of which would go toward research, development, test and evaluation accounts — the highest-ever level of RDT&E spending…