The Congressional Budget Office examined the Department of Defense’s plans between 2024 and 2028 as outlined in the 2024 Future Years Defense Program and projected that defense costs under such plans would hit $922 billion in 2038, reflecting a 10 percent increase.
Nearly 70 percent of the cost increase would be for military personnel or for operations and maintenance, according to a CBO report published Wednesday.
When adjusted for inflation, the defense budget after calendar year 2024 would remain nearly unchanged through 2028.
According to the report, the total costs of DOD’s plans between 2024 and 2028 would be approximately 3 percent or $113 billion higher than the department indicated in the 2024 FYDP. From 2024 through 2038, the total costs would be about 4 percent or $587 billion higher than DOD stated in the FYDP.
“To accommodate higher costs, DoD would need to scale back its plans or request larger budgets than are anticipated in the 2024 FYDP,” the report reads.
