In this backgrounder, Todd Harrison shares his outlook for the FY 2014 defense budget and discusses the long-term structural issues the Pentagon must address.
Looking Beyond the Fog Bank: Fiscal Challenges Facing Defense
After months of uncertainty, the FY 2013 defense budget appears to be settled. On March 26, President Obama signed H.R. 933 into law, which replaces the continuing resolution with a regular defense appropriations bill but leaves sequestration in effect. As attention now turns to the FY 2014 budget and the Administration’s much-delayed budget request, the fundamental issues that led to uncertainty and delays in the FY 2013 budget remain unresolved. These issues could lead to a similar outcome in FY 2014—more delays, more uncertainty, and ultimately another sequester.
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