US seeks to increase defense spending due to ‘threats’ from North Korea and others

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The Biden administration on Monday proposed a new defense budget that would increase spending to meet “ever-emerging” threats from North Korea and other challenges, according to the US Department of Defense.

The $773 billion budget for fiscal 2023 has been presented to Congress and includes nearly $56.5 billion for air force platforms and systems, more than $40.8 billion for naval power capabilities, nine battleships and about 12, $6 billion for modernization of Army and Marine Corps combat vehicles. The Pentagon announced in a statement.

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