In light of “these very troubled and dangerous times,” President Donald Trump has proposed for an increase in US defense expenditure to $1.5 trillion (£1.1 trillion) in 2027. The $901 billion budget for this year, which Congress authorized in December, would be more than 50% less than that.
Trump posted on social media on Wednesday, saying, “This will allow us to build the “Dream Military” that we have long been entitled to and, more importantly, that will keep us SAFE and secure, regardless of foe.
The president stated in separate posts that if big US defense companies don’t expedite arms supply and construct new manufacturing facilities, he will take tough measures against rewards to their shareholders and executives.
The disparity between US spending and income has reached unsustainable proportions, as economists have previously warned. However, Trump said that the money generated by tariffs would allow Washington to “easily hit” his anticipated $1.5 trillion defense budget.
Since his first term in office, Trump has advocated for increased defense spending by the United States and its allies. He claimed on Wednesday that US defense behemoth Raytheon was the “least responsive” to US defense requirements and the slowest to boost output.
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