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How much money the U.S. spends on war
U.S. defense spending and military aid costs are adding up. President Joe Biden signed a $95 billion U.S. military aid package in April allocating funding to Ukraine, Israel, Taiwan and the Indo-Pacific region. On top of that, the National Defense Authorization Act of 2024 authorized military spending of a record $886 billion. A big chunk of that money will go to bolster the American defense industry. “People think we’re sending a big check to Ukraine,” Gregory Hayes, CEO of RTX, told CNBC’s “Squawk Box.” “The fact is what most of that money will do [is] support American defense industries here in the ...