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Eric Zuesse — Trump Now Increases ‘Defense’ Budget 37% Above Obama’s

Summary:
The Washington Post headlined on January 26th, “Trump plans to ask for 6 billion for national defense in 2019 — a major increase”, and reported that when President Trump had entered the White House in January 2017, the ‘Defense’ budget was 1 billion, but that President Trump will propose in his upcoming State-of-the-Union speech, a 2019 ‘Defense’ budget of 6 billion, which, if it becomes law, would mean a 37% increase, above Obama’s last Pentagon budget (for 2017). This is in line with President Trump’s recently announced strategic change, away from Obama’s military budget, which was focused mainly against radical Islamic terrorism, now to target, instead, mainly Russia and China, and, secondarily, Iran and North Korea. As CBS News summarized on January 20th, “There is a major

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The Washington Post headlined on January 26th, “Trump plans to ask for $716 billion for national defense in 2019 — a major increase”, and reported that when President Trump had entered the White House in January 2017, the ‘Defense’ budget was $521 billion, but that President Trump will propose in his upcoming State-of-the-Union speech, a 2019 ‘Defense’ budget of $716 billion, which, if it becomes law, would mean a 37% increase, above Obama’s last Pentagon budget (for 2017).
This is in line with President Trump’s recently announced strategic change, away from Obama’s military budget, which was focused mainly against radical Islamic terrorism, now to target, instead, mainly Russia and China, and, secondarily, Iran and North Korea. As CBS News summarized on January 20th, “There is a major change in U.S. military strategy. On Friday [January 19th], more than 16 years after the 9/11 attacks, U.S. Defense Secretary Jim Mattis said terrorism is no longer the No. 1 priority. … Maintaining a military advantage over China and Russia is now Defense Secretary Mattis’ top priority.”
Where is the money going to come from? (rhetorical question). Growth stimulated by the Trump tax cuts. (Trump economic team).

Should make for some interesting politics in a country where the conventional wisdom is that everything needs to be paid for (even though that is a false belief).

Washington's Blog
Trump Now Increases ‘Defense’ Budget 37% Above Obama’s
Eric Zuesse

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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