WASHINGTON — The Pentagon’s chief weapons buyer said Thursday the Bush administration’s long-term military budget plan calls for increased defense spending in future years.
The Defense Department has been working to finalize an updated six-year projected spending plan and fiscal 2010 budget proposal before President-elect Barack Obama takes office on Jan. 20. The revised blueprint is expected to provide a major increase to the Pentagon’s budget. Wall Street analysts have been predicting a drop in defense spending.
On Thursday, Pentagon acquisition chief John Young acknowledged recent reports that the “top line” of the Defense Department’s budget plan for fiscal 2010 to fiscal 2015 would exceed the Bush administration’s previous spending projections between fiscal 2009 and fiscal 2013.
Young did not provide exact figures of the budget increase, calling the plan “a budget template” that would most likely be altered and adjusted by the next administration.