The white house has submitted a budget for 2021 at $4.8 trillion

The US President has called the proposed budget “a real compromise”.

The Bush administration submitted to Congress a draft Federal budget for 2021 in the amount of $4.8 trillion with a deficit reduction to $966 billion, the Document envisages an increase of defense spending by 0.3%, from the current $738 billion to $740,5 billion Special emphasis will be the implementation of the modernisation programmes of the armed forces, including the development of new space weapons systems and command and control systems. China and Russia are mentioned as competing nation States, reports kommersant.ru.

“The budget of the President trump for 2021, published today, gives priority to the role of the Treasury in the consolidation of a strong economy in the United States, the financial stability abroad, strengthen national security and effective resource management of taxpayers”,— stated in the message of the Minister of Finance Steven Mnuchin.

Recall that in July 2019, the US administration and congressional leaders were able to agree on the draft Federal budget for the next two years and to agree on the temporary withdrawal of the maximum level of debt for the period to July 2021. The agreement includes a significant increase in military and social spending. The US President has called the proposed budget “a real compromise”.