May 28, 2023

US seeks to boost defense spending due to ‘threats’ from North Korea and others

Pentagon says DPRK, Russia and other challenges justify 4.1% increase in defense budget next fiscal year

The Biden administration proposed a new defense budget on Monday that seeks to increase spending to confront “constantly emerging” threats from North Korea and other challenges, according to the U.S. Department of Defense.

The $773 billion budget for fiscal year 2023 was submitted to Congress and includes nearly $56.5 billion for air power platforms and systems, more than $40.8 billion for sea power capabilities, nine battle force ships and some $12.6 billion to modernize Army and Marine Corps fighting vehicles, the Pentagon announced in a statement.