Joe Biden Wants More Defense Contractors to Fight the New Cold War

Amid escalating tensions with Russia over its invasion of Ukraine and China over its claim to Taiwan, the Biden administration has placed competition at the heart of its foreign policy initiative.

Nation building and wars on terror are history, at least for the moment, after the U.S. pullout from Afghanistan. And with Congress largely aligned on the need for greater defense spending, America appears set on bolstering its military capabilities, with the Department of Defense (DoD) budget increasing by 4% for fiscal year 2023.

However, there is a new challenge.