Monday, Jan. 29, 2024
In 2024, is the U.S. defense budget nearing $1 trillion per year?
Annual federal spending on defense is trending toward $1 trillion.
Defense spending is authorized at up to $886 billion for fiscal 2024, which runs Oct. 1, 2023, through Sept. 30, 2024.
The cap rises to $895 billion for fiscal 2025.
The 2024 figure does not include other potential defense spending.
In October, President Joe Biden asked Congress to approve a $105 billion package that would support two countries in their wars. The bill includes $61 billion in military and economic assistance for Ukraine and $14 billion in military aid for Israel. Congressional leaders on Jan. 17 expressed optimism about reaching agreement on the package.
The U.S. spent 3.46% of its gross national product on defense in 2022. The U.S. was one of seven of NATO’s 30 member countries that met a NATO pledge to spend at least 2% of their gross domestic product on defense.
This fact brief is responsive to conversations such as this one.
Sources
- Congressional Research Service Discretionary Spending Caps in the Fiscal Responsibility Act of 2023
- New York Times Biden Requests $105 Billion Aid Package for Israel, Ukraine and Other Crises
- CNBC ‘We have some consensus’: Speaker Johnson, Sen. Schumer exit Biden meeting on Ukraine aid with optimism
- NATO The Secretary General’s Annual Report 2022
About fact briefs
Fact briefs are bite-sized, well-sourced explanations that offer clear "yes" or "no" answers to questions, confusions, and unsupported claims circulating online. They rely on publicly available data and documents, often from the original source. Fact briefs are written and published by Gigafact contributor publications.
See all fact briefs
Wisconsin Watch, the news arm of the nonpartisan, nonprofit Wisconsin Center for Investigative Journalism, increases the quality and quantity of investigative reporting in Wisconsin, while training current and future investigative journalists. Its work fosters an informed citizenry and strengthens democracy.
Learn MoreLatest Fact Briefs
Is Wisconsin one of only six states with same-day voter registration?
Monday, Feb. 17, 2025
Do recent studies link water fluoridation with less dental decay in children?
Friday, Feb. 14, 2025
Are airline flights the safest mode of transportation in the U.S.?
Tuesday, Feb. 11, 2025