Trump · Fortune Technology
President Trump’s fiscal year 2027 budget proposal, released Friday, calls for boosting total defense funding to $1.5 trillion—a jump
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The proposal would increase base defense discretionary spending by $251 billion and funnel an additional $350 billion into defense through a new reconciliation bill, while cutting nondefense discretionary spending by $73 billion—a 10% reduction that budget watchdogs say falls far short of offsetting the military…
Key facts
- The U.S. military budget request of $100 billion in 1943—the peak of World War II mobilization—is worth approximately $1.9 trillion in today’s dollars, by Smetters’s calculation and even more
- Another nonpartisan watchdog, Taxpayers for Common Sense, noted that since President Trump took office in 2025, the national debt has increased by $2.8 trillion, and taxpayers are now paying nearly
- The costs have been staggering: The war cost an estimated $11.3 billion in its first six days alone, and new estimates put total spending at roughly $30 billion to $45 billion over a month
- President Trump’s fiscal year 2027 budget proposal, released Friday, calls for boosting total defense funding to $1.5 trillion—a jump that most economists say would represent one of the largest
Summary
President Trump’s fiscal year 2027 budget proposal, released Friday, calls for boosting total defense funding to $1.5 trillion—a jump that most economists say would represent one of the largest budget increases in American history, rivaling the wartime mobilization of World War II. “The gap between rhetoric and reality is so massive,” said Steve Hanke, professor of applied economics at Johns Hopkins University. Kent Smetters, faculty director of the Penn Wharton Budget Model, said this isn’t the largest budget increase in U.S. history—the largest in the past 80 years or so. The budget arrives without official top-line deficit or debt figures, which CRFB president Maya MacGuineas described as an “astonishing lack of information.