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1 1 (January 7, 2022)

handle is hein.crs/govefcg0001 and id is 1 raw text is: Congressional ____ Research Service informing the Iegislativ debate since 1 14____________________ FY2022 NDAA: Budgetary Context Updated January 7, 2022 Congressional consideration of the National Defense Authorization Act for Fiscal Year 2022 (NDAA; H.R. 4350; S. 2792; S. 1605; P.L. 117-81) occurred as federal spending was projected to continue to exceed revenues. This trend raised questions about whether pressure to reduce the federal deficit would affect defense budget plans. In July 2021, the Congressional Budget Office (CBO) projected a federal deficit of $3.0 trillion for FY2021, or 13.4% of Gross Domestic Product (GDP). That percentage was the second-highest since 1945. CBO attributed the size of the projected deficit in part to the economic disruption caused by the 2020-2021 coronavirus pandemic and the legislation enacted in response. CBO projected spending would continue to exceed revenues over the next decade (Figure 1). From FY2022 to FY2031, CBO projected discretionary defense outlays would increase 23% and nondefense discretionary outlays 6%; while mandatory outlays would increase 40% and net interest payments on the national debt 198%. Congressional Research Service https://crsreports.congress.gov IN11797 CRS INSIGHT Prepared for Members and Committees of Congress -

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