The chart says it all: The U.S. vs.
the World in Armaments Race
MIC making
out like bandits under Trump.... case in point - 2019 DOD budget request –
source for this story from Washington Post headlines here:
Trump is expected to ask for $716 billion in defense spending when he unveils his 2019 budget next month, a major increase that signals a shift away from concerns about rising deficits, U.S. officials said.
The proposed budget is a victory for SecDef Jim Mattis, who recently unveiled a strategy that proposes retooling the military to deter and, if necessary, fight a potential conflict with major powers such as China and Russia.
It also represents a setback for deficit hawks such as OMB Chief Mick Mulvaney who only last year pressed for an increase in defense spending that could be offset by cuts to domestic programs.
This $716 Billion figure for 2019 would cover the Pentagon's annual budget as well as spending on ongoing wars and the maintenance of the U.S. nuclear arsenal.
Overall, it would increase Pentagon spending by more than 7% over the current 2018 budget, which ironically still has not passed through Congress.
FYI: This new proposed budget would be a 13% increase overall from 2017, when the U.S. spent about $634 billion on defense. In the absence of a budget, spending continues at 2017 levels.
My 2 cents for what it’s worth: So, yes, the MIC
(Military Industrial Complex that Ike warned about as he was leaving office) is
apparently still alive and well and still overweight and out of shape.
His 3-minute speech extract is here – worth watching
and listening to again:
Now the chart above says it all in this century of MIC
more growth.
Stay tuned for updates on this as I’m sure there will be plenty.
Thanks
for stopping by.
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