In a bold move, U.S. Secretary of Defense Pete Hegseth announced plans to ramp up defense spending, urging it to stay above 3% of GDP. Speaking in Stuttgart, Germany, the hub of the U.S. Africa Command, Hegseth criticized the current administration for what he called historic underinvestment in military capabilities.
\"I think the U.S. needs to spend more than the Biden administration was willing to, who historically underinvested in the capabilities of our military,\" Hegseth stated.
But the push doesn't stop there. Hegseth also called on NATO members to double their defense budgets, aiming for 5% of GDP. He emphasized the importance of Europe being well-defended against any potential aggression, saying it’s crucial for nearby nations to take the lead in military investments.
However, this ambitious target is facing skepticism in Europe. German Chancellor Olaf Scholz remains committed to NATO spending but deems the 5% goal as unrealistic. For Germany, reaching this mark would mean allocating over €200 billion ($204 billion) annually, which is half of its federal budget.
On the international front, Hegseth reiterated former President Trump's promise of a swift peace deal in Ukraine but clarified that the U.S. won't be sending troops to the region.
Meanwhile, the U.S. Senate recently passed the $895 billion National Defense Authorization Act for fiscal year 2025, marking a modest 1% increase from the previous year. According to the World Bank, the U.S. allocated about 3.4% of GDP to defense in 2023.
Stay tuned for more updates on how these changes could impact global politics and economic landscapes! 🌐✨
Reference(s):
cgtn.com
