WASHINGTON — President Joe Biden’s new defense budget request is more sizable than many observers had expected, and Congress is all but certain to beef it up further.
But with inflation eroding the power of each dollar more by the day, how much Biden’s huge proposed budget would actually buy in 12 or 16 months is very much up in the air.
The fiscal 2023 defense budget was written before the Russian invasion of Ukraine in February, and Pentagon officials said Monday they did not change the budget because of the war.
