This Is Obama’s $26B ‘Wish List’ for the Pentagon
President Obama wants to create a special $58 billion fund to offset budget cuts. About half of that would go to the Pentagon. By Stephanie Gaskell
In President Barack Obama’s fiscal year 2015 budget there’s an extra $58 billion created by a special fund that would come from a mix of spending and tax reforms. Of that, $26.4 billion would go to the Pentagon to offset cuts to readiness and modernization from sequestration.
Called the “Opportunity, Growth and Security Initiative,” the fund “invests in our economic priorities in a smart way that is fully paid for by making smart spending cuts and closing tax loopholes that right now only benefit the well-off and the well-connected,” Obama said Tuesday at a press conference at an elementary school in Washington, D.C.
At the Pentagon, outgoing comptroller Bob Hale outlined what the money would be spent on in one handy slide: