February 13, 2018
The new defense budget: what you need to know
The budget agreement finally reached by Congress last Friday provides around $700 billion for national defense in fiscal years 2018 and 2019, an allocation in line with President Trump's 2019 budget request, released by the OMB this morning.
Here's what you need to know about that spending:
- The defense budget is big, about the same size as the entire Swiss economy. It consumes over half of discretionary spending, though only about 16 percent of the total budget (including Social Security, Medicare and other programs). But the expenditure is not unreasonable: Not only is the U.S. military the finest fighting force in the world, with over 2 million men and women on active duty or in the National Guard or Reserves, it also has components that are basically a health care company, a global supply chain outfit, and a sizable retail operation.
Read the full article in Axios.
More from CNAS
-
How China’s $100B+ Shipbuilding Empire Dominates the U.S.’s
Video
China has transformed into a shipbuilding powerhouse over the past two decades, cementing its status as a major maritime power. In 2023, more than half of the world’s commerci...
By Tom Shugart
-
Stock Buybacks in Defense: What Drives Them, and How That Can Change?
Commentary
Lack of capital is not a problem hindering investment at the largest defense primes. The issue revolves around the capital allocation decision....
By Mikhail Grinberg, Jerry McGinn & Lloyd Everhart
-
Ukrainian president has stark new warning as war rages on
Video
Ukrainian President Volodymyr Zelensky warns that Ukraine will lose the war with Russia without US assistance. Franz-Stefan Gady of CNAS explains why US military aid is crucia...
By Franz-Stefan Gady
-
Sharper: Maritime Security
Commentary
The importance of securing the maritime domain is rapidly increasing. From the South China Sea to the Red Sea, the U.S. and its allies are experiencing escalating challenges t...
By Anna Pederson & Charles Horn
