A few days ago, the fiscal year 2024 budget announced by the President of the United States increased defense spending to 842 billion US dollars, setting a new record in scale and becoming one of the largest annual defense budgets in peacetime in American history. The U.S. defense budget for fiscal year 2024 also includes financial support for the Department of Defense’s “Pacific Deterrence Program.” Another $37.7 billion will be used to modernize the U.S. nuclear arsenal, while the amount of investment in shipbuilding and key technologies is not yet clear. A considerable part of the increased defense budget will be used for research and development of new weapons, procurement of weapons and ammunition.
Some analysts believe that in the face of an economic environment with high inflation, the U.S. government should devote more energy to domestic economic issues and at the same time further shrink defense spending. This is a rational way to solve the problem. However, the U.S. government has chosen the opposite direction, which is tantamount to “going the opposite way.” In fact, in the past year, the life of many ordinary people in the United States has become increasingly tight, which can be described as miserable. According to CNN, the price of eggs in the United States has soared by more than 70% in the past year, the price of flour has increased by 20.4%, the price of bread has increased by 14.9%, the price of infant milk powder has increased by about 10%, and the price of lunch in primary and secondary schools has increased by more than 300%. skyrocketed. The National Economic Situation Survey Report released by the US Federal Reserve Board on March 8, known as the “Beige Book”, also showed that inflationary pressures in the US still prevail.
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