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In May 2021, the Pentagon presented its first budget request to the Biden Administration, proposing a $715 billion topline for Fiscal Year 2022, representing a 0.2 percent real decrease relative to the previous fiscal year. In a shift from previous budgets, the request also included contingency operations costs within DoD's base budget, eliminating the separate Other Contingency Operations (OCO) account that has supplemented the Defense Department's budget for two decades.
Dr Travis Sharp, budget studies director at the Center for Strategic and Budgetary Assessments, said the requested funding increase is more a reflection of how record-high US inflation has affected government agencies’ finances rather than the impact of the crisis in Ukraine.
“Providing a higher level of defense spending does help to correct for some of the decreasing buying power as a result of inflation,” Sharp said. “If you didn’t provide a higher level of defense spending, then you would be trying to support the same-sized military with less money, so that would force you to make some hard trade-offs.”
In this report, CSBA Fellow and Director of Defense Budget Studies Travis Sharp analyzes the FY 2022 Defense Department Budget Request with a focus not only on comparisons with the previous administration's defense budgets but also on the insights into the current and future strategic priorities for the Biden Administration.
