Parlous fiscal conditions are arguably more important than electoral dynamics in explaining why the Trump defense buildup is headed for an early demise. As that occurs, debt service will tend to displace discretionary spending such as defense within the federal budget. -- comprise about three-fifths of federal spending, neither party is willing to look there for savings. So it is hard to see how defense spending could get any higher than it is today. The key question for weapons makers is what the composition of spending within a flat defense budget looks like.

Source: Forbes November 07, 2018 15:50 UTC