Makoto Kajiwara, Nikkei Asian Review: US debt will ultimately defeat the great American military
Growing interest payments mean less money for defense spending.
HONG KONG — Stocks in Lockheed Martin and other companies in the U.S. defense industry have been on a roller-coaster ride since Donald Trump won the presidential election last November.
After Trump, who was inaugurated on Friday, won the election, their stocks soared on his call for reinforcing U.S. defense capabilities. But they plunged in December as Trump said the prices of the new Air Force One presidential plane and the F-35 stealth fighter are too expensive.
With investors feeling queasy from the whiplash, Wall Street is jittery, fearing that the Trump administration may be unable to increase defense spending due to financial constraints.
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WNU Editor: Speaking of U.S. debt …. U.S. budget deficit projected to balloon to $8.6 trillion in 10 years (UPI).