The Department of War has released President Donald Trump's massive Defense Budget, which proposes to raise total defense-related spending to $1.5 trillion for Fiscal Year 2027.
The largest request in the post-WWII era, the budget aims to strengthen U.S. military readiness against threats from Iran, China and Russia.
The Defense Budget for FY27 marks a 42 percent increase over current funding levels.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.