Early Look at DOD Budget Suggests $452 Billion in Contracts

Pentagon contract spending could reach another record total in fiscal 2024 if a decade’s worth of defense budget and contract spend patterns hold, according to Bloomberg Government analysis based on preliminary defense budget estimates.

Contract obligations out of the Defense Department have averaged 55% of the Pentagon’s discretionary budget authority since fiscal 2013. Projecting out from that ratio against the enacted defense appropriations figure for fiscal 2023 and the estimated budget request for fiscal 2024 points to continued robust DOD procurement spending.

Bloomberg reported earlier this month that the White House’s fiscal 2024 budget request for DOD will exceed $816 ...