Budget 2023Budget 2023


  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
Live Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
Budget 2023
Budget 2023
you are here: HomeNewsWorld

Joe Biden unveils annual budget with largest investments in America's national security history; DoD priorities China as its 'pacing challenge'

.US President Joe Biden said he is calling for one of the largest investments in US national security in history, with the funds needed "to ensure that its military remains the best-prepared, best-trained, best equipped military in the world"

March 29, 2022 / 09:36 AM IST
File image of United States President Joe Biden (Image Source: AFP)

File image of United States President Joe Biden (Image Source: AFP)

United States President Joe Biden on March 28 unveiled a whopping $5.8 trillion annual budget proposal that calls for the largest investments in the country's national security history, with the Department of Defense (DoD) prioritising China as its "pacing challenge."

"Budgets are statements of values, and the budget I am releasing today sends a clear message that we value fiscal responsibility, safety and security at home and around the world, and the investments needed to continue our equitable growth and build a better America," Biden said as his administration unveiled the second annual budget.

The administration, he said, is on track to reduce the federal deficit by more than $1.3 trillion this year, cutting in half the deficit from the last year of the previous administration and delivering the largest one-year reduction in the deficit in US history.

Follow our LIVE coverage of the Russia-Ukraine Crisis here