The US defense budget for fiscal year 2024 may significantly increase expenditure on weapons procurement and R&D.

　　Bloomberg news on March 8, US President Biden will present a budget on Thursday local time. It is reported that 170 billion US dollars of defense expenditure is used for weapons procurement and 145 billion US dollars for research and development, both of which have set the highest records in recent years, respectively, which is 8 billion US dollars more than the appropriation of Congress this fiscal year and nearly 5 billion US dollars. According to a US official, the budget of the US Department of Defense will exceed $835 billion for the fiscal year 2024 starting from October 1, which is higher than the allocation of $816 billion approved by Congress for this fiscal year.

　　It is reported that the budget will list $13.5 billion for purchasing, continuously developing and upgrading Lockheed Martin’s F-35 fighter. It is reported that the Pentagon will apply for 83 F-35 fighters for the Air Force, Navy and Marine Corps, including 48 for the Air Force and 35 for the Navy and Marine Corps. The US government applied for 61 aircraft last year. Congress added 19 aircraft to the final expenditure law, making a total of 80 aircraft.

　　Biden will travel to Philadelphia, Pennsylvania on March 9, local time, and release the budget for fiscal year 2024. According to a statement issued by the White House, Biden will deliver a speech introducing his investment plan in the United States, proposing to continue to reduce family costs, protect and strengthen social security and medical insurance, and reduce the deficit. It is reported that the main highlights of the fiscal year 2024 budget include a commitment to cut the government deficit by 2 trillion US dollars within 10 years and extend the duration of the Medicare program for at least 20 years.