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Biden’s $813.3 BILLION defense budget: President wants $5B for missile warning system based in SPACE

President Joe Biden will on Monday ask for $813.3 billion in national security spending in his proposed budget, including money for a space-based missile warning system and almost $2 billion for an interceptor to protect against ballistic missile threats from states such as North Korea and Iran.

Senior U.S. generals have warned that Iran’s growing arsenal poses the greatest risks to American interests in the Middle East, and North Korea’s threat was apparently on display last week when it claimed to have tested its new Hwasong-17 intercontinental ballistic missile.

Analysts said the new missile could reach anywhere in the U.S. 

Against that backdrop, Biden will send his budget to Congress on Monday, according to officials familiar with the proposals, with hikes in defense spending. 

‘I’m calling for one of the largest investments in our national security in history, with the funds needed to ensure that our military remains the best-prepared, best-trained, best-equipped military in the world,’ said Biden in a statement ahead of scheduled remarks.

‘In addition, I’m calling for continued investment to forcefully respond to Putin’s aggression against Ukraine with US support for Ukraine’s economic, humanitarian, and security needs.’

It includes $773 billion for the Pentagon and overall marks an increase of $31 billion – or four percent more – on this year’s national security spending. 

President Joe Biden is due to unveil his 2023 budget on Monday. It will reportedly include a hike in spending for the Pentagon as it responds to threats from China and North Korea

North Korea on Thursday said it had tested the Hwasong-17 intercontinental ballistic missile, which analysts said could hit targets inside the continental United States

North Korea on Thursday said it had tested the Hwasong-17 intercontinental ballistic missile, which analysts said could hit targets inside the continental United States

North Korean missile's potential range is 8100 miles. However, some experts have raised doubts about the authenticity of video released by the pariah nation

North Korean missile’s potential range is 8100 miles. However, some experts have raised doubts about the authenticity of video released by the pariah nation

The state-run Korean Central News Agency released a picture of the country's leader Kim Jong-un inspecting what it said was the launch system of the Hwasong-17 ICBM

The state-run Korean Central News Agency released a picture of the country’s leader Kim Jong-un inspecting what it said was the launch system of the Hwasong-17 ICBM

A White House official told Bloomberg News that that it marked one of the biggest national security investments in American history, strengthening allies in Europe and the Indo-Pacific as well as providing assistance to Ukraine. 

It also comes amid a string of warnings that the U.S. is falling behind China in and Russia in defense technology, including in the development of hypersonic weapons and the use of Artificial Intelligence.

China last year tested a hypersonic weapon – defined as being able to travel at five to 25 times the speed of sound, and capable of outmaneuvering missile defense systems – while Russia claims to have used at least two during its invasion of Ukraine. 

The request includes $130.1 billion for research and development – reportedly the Pentagon’s biggest request in that category – for both of those areas. 

Some $5 billion will be directed to a space-based missile warning system to pick up threats worldwide.

And Biden is requesting $145.9 billion for procurement, according to Bloomberg News, with planned purchases including 61 F-35 fighter jets, the B-21 bomber and two Virginia-class submarines. 

North Korea flexed its muscles again on Monday, when state media reported that the country’s leader had promised to develop even more powerful weapons. 

On Thursday, the North performed its 12th round of weapons tests this year, launching its Hwasong-17, which analysts said was designed to target anywhere in the U.S. mainland. 

The Korean Central News Agency quoted Kim Jong-un as saying that there was more to come. 

Hypersonic missiles differ from ballistic ones in that they travel closer to the earth and as such can largely avoid radar detection

Hypersonic missiles differ from ballistic ones in that they travel closer to the earth and as such can largely avoid radar detection

Biden’s $5.8T budget: The headline items including taxes and defense (and what is tucked inside) 

  • Includes a minimum 20% tax on the incomes of households worth $100 million or more. 
  • Corporate tax rate will be raised from 21% to 28%.
  • Plans to reduce the deficit by $1trillion over the next 10 years. 
  • 18% increase in the IRS budget. 
  • $813.3 billion in defense and national security, aimed at countering threats from North Korea and Iran
  • Additional $682 million for Ukraine, ‘to counter Russian malign influence and to meet emerging needs related to security, energy, cybersecurity issues, disinformation, macroeconomic stabilization, and civil society resilience’
  • $81.7 billion to Department of Health and Human Services over the next five years to prepare for future pandemics.
  • $3.3 billion to support clean energy projects and $18 billion for climate resilience programs.
  • Includes the backing for a Civilian Climate Corps.
  • $309 million for border security and $494 million to help processing migrants.
  • That includes $150 million for lawyers to represent migrants during immigration proceedings.  
  • $1 billion for school counselors after the COVID pandemic
  • $10 billion for election administration – including ‘making ballots postage free’.

‘Only when one is equipped with the formidable striking capabilities, overwhelming military power that cannot be stopped by anyone, one can prevent a war, guarantee the security of the country and contain and put under control all threats and blackmails by the imperialists,’ it quoted him as saying. 

Biden’s 2023 budget proposal also includes $32 billion to fight rising crime in the U.S., according to two White House officials, despite years-long calls from the progressive wing of his party to defund police.

Massive crime spikes, particularly in cities, are one issue that could threaten Democrat’s majority in the upcoming midterm elections. Republicans are effectively branding the issue as widely Democrat-caused due to calls to abolish police and rhetoric against law enforcement in general.

The officials tell Axios that Biden’s budget proposal would require $30 billion in new spending over the next decade to expand law enforcement and increase crime prevention. 

Biden’s budget proposal, according to reports, will also include a ‘billionaire’s tax’ to help pay for the $1 trillion deficit reduction.

The minimum tax on the wealthiest Americans would require households worth more than $100 million to pay at least 20 percent of their income.

The White House plans to unveil the ‘Billionaire Minimum Income Tax’ on Monday as part of Biden’s 2023 budget plan, but it would have to pass through Congress to become law, and would likely face stiff opposition from some quarters.

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Read more at DailyMail.co.uk