Lawmakers Sign Off on Major Navy Expansion, but All Bets Are Off Until They Find a Way to Pay for It
Lawmakers have officially endorsed the idea of growing the Navy by 27%. But they haven't yet figured out a way to pay for that growth.
The 2018 National Defense Authorization Act, signed into law by President Trump on Dec. 12, included a provision calling for the country to boost the Naval fleet to 355 ships "as soon as practicable." The Navy currently deploys a fleet of 279 ships in the battle fleet, but Pentagon officials for years now have been calling for that number to increase so the Navy is better equipped to sustain its presence around the globe.
The USS Ralph Johnson, an Arleigh Burke-class destroyer, undergoing sea trials from Huntington Ingalls' Mississippi shipyard. Image source: Huntington Ingalls.
Source: Fool.com