National Defense: BREAKING: Inflation Costing Pentagon $50 Billion in Purchasing Power
The high rate of inflation since fiscal year 2021 has reduced the Defense Department’s buying power by $50 billion, and Congress needs to add at least $42 billion to the requested 2023 budget just to maintain current spending levels, according to a new report.
The white paper, “How Inflation Hurts America’s National Defense and What We Can Do About it,” issued Sept. 13 by the National Defense Industrial Association, states that the 2021 and 2022 defense budgets were developed before the onset of rapid inflation, and therefore the Defense Department has experienced a substantial loss of buying power. NDIA is publisher of National Defense.
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WNU Editor: The report is here .... How Inflation Hurts America's National Defense (NDIA).
More News On The Impact That Inflation Is Having On US National Defense
Pentagon to lose $110 billion buying power from inflation, defense trade group warns -- Breaking Defense
Pentagon needs an extra $42 billion due to soaring inflation -industry group -- Reuters
Defense Firms Sound Inflation Alarm as Congress Mulls 2023 Budget -- Defense One
Pentagon to release new contracting guidance to mitigate inflation impact on suppliers -- Breaking Defense
‘Extraordinary circumstances’: DoD eyes inflation relief for vendors -- Defense News
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