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October 22, 2018October 22, 2018Loren B. Thompson, Ph.D

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How Inflation Might Kill Modernization Of The U.S. Military (From Forbes)

October 22, 2018October 22, 2018Loren B. Thompson, Ph.D

U.S. military planners are ready for just about anything. Anything, that is, except a fiscal crisis driven by rising interest rates. The federal government has accumulated so much debt that even a moderate rise in rates could drive the annual cost of servicing the debt over a trillion dollars. If that were to happen, defense would likely become a bill-payer for the government’s past profligacy, and equipment purchases would be hit especially hard. The Trump defense buildup might come to an early end. I have written a commentary for Forbes here.

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