The U.S. House passed a mostly bipartisan bill to spend nearly $1 trillion on national defense, adding to the already growing $36 trillion national debt.
The House voted to pass its yearly defense bill Wednesday, adding about another $1 trillion to the $36 trillion national debt. The 1,800-page bill known as the National Defense Authorization Act , details how $895.2 billion allocated toward defense and national security will be spent. On Wednesday, the bill passed 281-140, with 16 Republicans voting no. Only 81 Democrats voted yes, while 124 voted no.
The latest findings from the Congressional Budget Office indicate the national debt will grow to an astonishing $54 trillion in the next decade, the result of an aging population and rising federal health care costs. Higher interest rates are also compounding the pain of higher debt. Should that debt materialize, it could risk America's economic standing in the world. The spike in the national debt follows a burst of spending by President Biden and Democratic lawmakers.
While that is about half of the $7.5 trillion that President-elect Trump added to the deficit while he was in office, it's far more than the $2.5 trillion Trump approved at that same point during his first term. Biden has repeatedly defended the spending by his administration and boasted about cutting the deficit by $1.7 trillion. 'I might note parenthetically: In my first two years, I reduced the debt by $1.7 trillion. No president has ever done that,' Biden said recently.
The defense act also includes measures to strengthen deterrence against China and calls for an investment of $15.6 billion to bolster military capabilities in the Indo-Pacific region. The Biden administration had only requested about $10 billion. Fox News’ Eric Revell and Morgan Phillips, as well as The Associated Press, contributed to this report.
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