U.S. Defense Spending Keeps Ratcheting Up 10% Each Year

The American budget for defense spending appears set to keep growing at about 10% a year, with a new National Defense Authorization Act for Fiscal 2023 of $847 billion approved by House and Senate armed services committees on Nov. 30. Politico reported that day that this was about $45 billion more than the White House requested. It may grow slightly more still, as an amendment for $3 billion/year in military aid to Taiwan has not yet been introduced, but is reported in the New York Times as in the works.