Sunday, May 10, 2020

A Look At How The Pandemic Is Going To Impact Defense Spending

Motley Fool: How Coronavirus Spending Cuts Could Impact Defense Spending

The Pentagon could be forced to cut some programs and focus on priorities.

The Pentagon will protect funding for its key strategic priorities, even if it means deeper cuts to older, so-called "legacy systems," according to Defense Secretary Mark Esper.

The COVID-19 pandemic is threatening to shuffle Washington priorities, with the U.S. government committed to upwards of $3 trillion in unanticipated spending to deal with the pandemic. It is too soon to know what the implications of all of that spending will be on the fiscal 2022 United States budget, but Esper conceded it is a concern.

"We recognize the fact that Congress has generously put $3 trillion into the economy in the past couple months and that puts a tremendous load onto ... the national debt and that puts a strain on the economy," Esper said May 5 during a press conference. "We're aware of those things and taking them into planning consideration as well."

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WNU Editor: No one knows what the future is going to be right now. The pandemic is still ongoing, and until it ends governments are not going to be restraining their budgets. Defense spending included.

1 comment:

Jac said...

We need a lot of money because bad things are simmering in the Asia-Pacific area.