The initial budget Biden submitted last year
was a cut in real terms.
It didn't account for inflation.
Now we've got an increase that does,
albeit barely.
But I think what Ukraine illustrates
is that we've been neglecting our own defense
for far too long.
If you combine the challenges
of Russia and China,
it's time to revitalize our
investments in American hard power.
I know the overall number
is a shock to most people,
but when measured historically
as a percentage of GDP,
we're nowhere close to what
we used to spend in the old Cold War,
and I believe we're in the
early stages of a new Cold War.
Ultimately, it's a cheaper option
than disinvesting in our defense,
inviting aggression and
stumbling into World War 3
on someone else's terms.
That's kind-of the mistake
we make historically.
It's wiser both as a fiscal matter
as well as a matter of American safety
to invest robustly to avoid conflict.