Trump budget to frame midterms with increased war spending, domestic cuts
BLOOMBERG.COM
'war economy'
SUMMARY

President Donald Trump is preparing a fiscal year 2027 budget that shifts the United States to a full war economy.

The plan calls for a massive increase in military spending to $1.5 trillion from less than $1 trillion in the current fiscal year.

This defense buildup will be funded in part by deep cuts to domestic agencies and health-care entitlements.

The proposal marks the first time Trump has packaged his complete second-term governing agenda into one comprehensive document with detailed numbers.

It will also update 10-year deficit projections currently estimated at around $16 trillion.

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