Trump plans record $1.01 trillion national security budget this year

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Trump plans record $1.01 trillion national security budget this year - Business Standard

Quick Summary:

On Tuesday, the Government Accountability Office reported that the Defense Department disclosed about $10.8 billion in fraud in 2017-2024.“The full extent of fraud affecting DOD is not known but is potentially significant,” the GAO report said.

One of the officials, who asked not to be identified discussing figures that haven’t been released, said the 13 per cent increase echoes a defense buildup overseen by President Ronald Reagan.

Surpassing the $1 trillion mark in defense spending will likely cause sticker shock among US lawmakers who have criticized the Pentagon’s repeated failure to produce financial statements that result in a clean audit.