ABSTRACT

FY2022 NDAA: Budgetary Context [November 10, 2021]   [open pdf - 830KB]

From the Document: "Congressional consideration of the National Defense Authorization Act for Fiscal Year 2022 (NDAA; H.R. 4350 and S. 2792) occurs as federal spending is projected to continue to exceed revenues. This trend raises questions about whether pressure to reduce the federal deficit may affect defense budget plans. In July 2021, the Congressional Budget Office (CBO) projected [hyperlink] a federal deficit of $3.0 trillion for FY2021, or 13.4% of Gross Domestic Product (GDP). That percentage would be the second-highest since 1945. CBO attributed the size of the projected deficit in part to 'the economic disruption caused by the 2020-2021 coronavirus pandemic and the legislation enacted in response.' CBO projects spending will continue to exceed revenues over the next decade ('Figure 1'). From FY2022 to FY2031, CBO projects discretionary defense outlays will increase 23% and nondefense discretionary outlays 6%, while mandatory outlays will increase 40% and net interest payments on the national debt 198%."

Report Number:
CRS Insight, IN11797
Author:
Publisher:
Date:
2021-11-10
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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