President Donald Trump has called for US defence spending to be increased to $1.5 trillion (£1.1 trillion) in 2027 for what he called these very troubled and dangerous times.
That would be more than 50% higher than this year's $901 billion budget, which was approved by Congress in December.
This will allow us to build the ‘Dream Military’ that we have long been entitled to and, more importantly, that will keep us SAFE and SECURE, regardless of foe, Trump said on social media on Wednesday.
In separate posts, the president stated he would crack down on payouts to bosses and shareholders of major US defence contractors unless the firms speed up deliveries of armaments and build new manufacturing plants.
Economists have previously warned that the gap between US spending and its income has reached unsustainable levels. However, Trump asserted that Washington can easily hit his proposed $1.5 trillion defence budget thanks to revenue generated by tariffs.
Trump has been advocating for higher defence spending by the US and its allies since his first term in office. He specifically criticized US defence giant Raytheon for being the least responsive to America’s defence needs and the slowest to increase production.
Either Raytheon steps up and starts investing in more upfront investments like plants and equipment, or they will no longer be doing business with the Department of War, Trump emphasized in a different post. The BBC has reached out to Raytheon for their comment on the situation.
