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As Governor of New York, Franklin D. Roosevelt had campaigned for the Presidency, in part, on a pledge to balance the federal budget. [4] [5] On March 10, 1933, six days after his inauguration, Roosevelt submitted legislation to Congress which would cut $500 million ($8.181 billion in 2009 dollars) from the $3.6 billion federal budget by eliminating government agencies, reducing the pay of ...
And since military spending accounts for about 13 percent of the federal budget, it is an obvious target for anyone who wants to reduce the annual deficit and control the ever-expanding national debt.
Military budget of China, USSR, Russia and US in constant 2021 US$ billions Military spending as a percent of federal government revenue. The military budget of the United States is the largest portion of the discretionary federal budget allocated to the Department of Defense (DoD), or more broadly, the portion of the budget that goes to any military-related expenditures.
Federal pay rates (including military) were unaffected but the sequestration did result in involuntary unpaid time off, also known as furloughs. [ 4 ] The sequester lowered spending by a total of approximately $1.1 trillion versus pre-sequester levels over the approximately 8-year period from 2013 to 2021.
The Pentagon is also likely to pause military recruitment and operational planning. The pause in pay and furloughs will have impacts that go beyond U.S. borders. USAA government shutdown program
Add to that the nondiscretionary spending on defense, like veterans benefits, which is separate from the U.S. defense budget, and annual defense spending has already crossed the $1 trillion mark.
Should the administration implement an annual 8 percent cut over the next five years, that will add up to roughly $300 billion less in military spending through 2030.
This is an accepted version of this page This is the latest accepted revision, reviewed on 21 February 2025. 2013 tax increase and spending decrease This article is part of a series on the Budget and debt in the United States of America Major dimensions Economy Expenditures Federal budget Financial position Military budget Public debt Taxation Unemployment Gov't spending Programs Medicare ...