Military Defense Contractors Are Eager to Book New Orders.
With his recent budget proposal, President Donald Trump is requesting a “historic” defense spending boost to make good on his promise to strengthen the U.S. military. Still, some lawmakers are questioning whether the amount is truly enough to maintain our country’s position as the world’s strongest military power.
“Making America Great”
Trump’s plan calls for the Pentagon to receive a total budget of $603 billion, which is 10 percent over Congressional caps instituted in 2011 but just three percent more than defense spending during the last fiscal year. Three percent is also only slightly higher than the country’s rate of inflation, which currently sits at 2.5 percent.
Much of the increase is intended for shipbuilding and military aircraft, which would provide a major influx of defense contracting. Trump believes the new budget will strengthen the reputation of “American strength, security and resolve” among the rest of the world.
What Happens Next?
The President’s budget now requires approval from Congress, which could involve several months of negotiations. Lawmakers such as Sen. John McCain, Republican chairman of the Senate Armed Services Committee, object to what they feel is an insufficient increase. On the other hand, Democrats are taking issue with the cuts in domestic programs that are being requested to fund the increase in military spending.
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