Trump Lavishes Our Tax Dollars On Military Industrial Complex
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March 23, 2018 "Information Clearing House" - The $1.3 trillion omnibus offers the most significant increase in defense funding in the past 15 years, including a pay hike for personnel.
The Department of Defense is set to gain $61 billion more than last year's enacted funding for a top line of $700 billion.
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The omnibus allocates $144.3 billion for military equipment procurement, including big-ticket items such as:
- $23.8 billion for 14 Navy ships
- $10.2 billion for 90 F-35 fighter jets
- $1.8 billion for 24 F/A-18 fighter jets
- $9.5 billion for the Missile Defense Agency
The defense-friendly bill also provides $238 billion for operations and maintenance, $89.2 billion for research and development, and $137.7 billion for personnel pay – a 2.4 percent increase from fiscal year 2017.
President Trump signed a memorandum that imposes up to $60 billion in new tariffs on China. At a White House signing ceremony, he cited unfair trade practices with the nation, but said there are ongoing negotiations with China that involve his request to reduce the U.S. trade deficit by $100 billion.
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The views and opinions expressed in this article are the author’s own and do not necessarily reflect those of Information Clearing House.
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