Watch How A lot The U.S. Spends On Wars Overseas YouTube CNBC English Information shorts:Video
U.S. protection spending and army support prices are including up. President Joe Biden signed a $95 billion U.S. army support bundle in April 2024, allocating funding to Ukraine, Israel, Taiwan and the Indo-Pacific area. That is on high of the Nationwide Protection Authorization Act of 2024, which licensed army spending of a document $886 billion. U.S. army spending and support packages bolster the American protection trade. “Folks suppose we’re sending a giant test to Ukraine”, Gregory Hayes, CEO of RTX, informed CNBC’s “Squawk Field”. “The very fact is what most of that cash will do will go to assist American protection industries right here within the U.S.”
The 5 largest U.S. protection firms, Lockheed Martin, RTX, Basic Dynamics, Boeing and Northrop Grumman, had Division of Protection contracts totaling greater than $118 billion in fiscal yr 2022. “There’s a whole lot of international international locations that get support from america that’s predicated upon utilizing that support to purchase U.S. {hardware},” stated Ken Herbert, aerospace and protection analyst at RBC Capital Markets, informed CNBC.
Watch this video to be taught extra about the place the U.S. sends army support and personnel and the way protection spending impacts the world at giant.
Chapters:
0:00 Introduction
1:44 Chapter 1 – The place the U.S. sends cash
5:28 Chapter 2 – U.S. protection firms
8:37 Chapter 3 – Boots on the bottom
Produced by: Shawn Baldwin
Edited by: Andrea Miller
Animation: Jason Reginato
Supervising Producer: Lindsey Jacobson
Extra Footage: Getty Photographs
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How A lot The U.S. Spends On Wars Overseas
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