Vice-chairman admiral Sandy Winnefeld would also be renominated for another two-year term, Obama said in a statement, hailing the military chiefs as "superb officers who have led our military ... With great distinction."
"I am confident in saying that our nation is safer and more secure today because of their visionary, dedicated, and tireless leadership," Obama said, urging the US Senate to confirm the duo as "swiftly as possible."
Secretary of Defense Chuck Hagel also welcomed the nomination. "I enthusiastically endorse that nomination," he said in a press conference.
Dempsey, 61, a graduate of West Point, was appointed in October 2011 after serving as the US Army chief.
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