US Defense Budget Soars for FY2024, Prioritizing Advanced Weaponry

By COINTURK NEWS | Cryptocurrency-News | 10 Jan 2024


The US Department of Defense has proposed a substantial increase in its budget for Fiscal Year 2024, reaching a total of $841.4 billion, marking a significant rise from the previous year. This budget hike, approved by Congress and expected to be ratified by President Joe Biden, solidifies the US's position as a global leader in defense spending. A significant portion, $54.4 billion, is allocated for modernizing weapon systems across the army, navy, and air force, ensuring the US maintains superiority in air, land, and sea with cutting-edge equipment.

An in-depth analysis of the Pentagon's budget request for FY2024 reveals the procurement of costly weapons, with emphasis on unit costs that include research, development, and future modifications. Two major investments stand out: $10.2 billion for 83 F-35 fighter jets and $10.6 billion for two Virginia-class submarines. Additionally, eight other weapon systems are set to receive between $1.7 and $5.9 billion each.

This budget highlights the expensive nature of US naval assets, with nine systems costing up to $5.9 billion each. In contrast, the army's allocation includes five high-cost assets like helicopters and tank upgrades, underscoring the financial disparity among different military branches.

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