What was the military budget in 2013?
The Obama Administration’s FY 2013 budget requests a total of $620 billion for the Department of Defense (DoD). 2 The base budget for the Department includes $525.4 billion in discretionary funding and $6.3 billion in mandatory funding.
How long did the 2013 sequestration last?
The sequester lowers spending by a total of approximately $1.1 trillion versus pre-sequester levels over the approximately 8-year period from 2013 to 2021.
What was the US military budget in 2016?
In 2016, total US military expenditure of $611 billion is over one-third (36 per cent) of world military expenditure.
When did the sequester go into effect?
The sequestration was to come into force on January 1, 2013 and was considered part of the fiscal cliff, but the American Taxpayer Relief Act of 2012 delayed it until March 1 of that year.
What was the US military budget in 2012?
The FY 2012 budget requests a total of $676 billion for the Department of Defense (DoD). The base budget for DoD includes $553 billion in discretionary funding and $5 billion in mandatory funding, and an additional $118 billion is requested for the wars in Afghanistan and Iraq.
What is a sequestration cut?
Sequestration refers to automatic spending cuts that occur through the withdrawal of funding for certain (but not all) government programs.
What was the military budget in 2017?
On 16 March 2017 President Trump submitted his request to Congress for $639 billion in military spending (an increase of $54 billion, 10% for FY 2018, as well as $30 billion for FY2017, which ends in September).
What is the DoD Defense budget?
On September 28, 2018, Trump signed the Department of Defense appropriations bill. The approved 2019 Department of Defense discretionary budget is $686.1 billion. It has also been described as “$617 billion for the base budget and another $69 billion for war funding.”.
What is the current US military budget?
U.S. military spending, traditionally defined, was $730 billion in 2019. Studies that seek to define a “national security” budget – which includes the military, and also veterans’ affairs, homeland security, and similar expenses – can easily arrive at estimates approaching or exceeding $1 trillion per year.
What is new military budget?
Updated April 22, 2019. Estimated U.S. military spending is $989 billion. It covers the period October 1, 2019, through September 30, 2020. Military spending is the second largest item in the federal budget after Social Security.
What is defense budget?
United States Department of Defense budgetUS$530.1 billion (2010)US$549.1 billion (2011)US$553.0 billion (est. 2012)US$496.1 billion (2015)US$534.3 billion (base FY2016)