Trump's Defense Budget Proposal Focuses on Nukes, Research
President Donald Trump on Monday submitted to Congress a $740 billion national security budget request heavy on investment in updating the nation's nuclear arsenal and providing a substantial boost to research and development, while retiring a number of older Air Force planes. It is a bullish document for defense contractors and their investors, but also provides warning that after years of growth the momentum is starting to fade.
The Pentagon portion of the budget totaled about $705 billion, down 1% from $713 billion a year prior, but the government is seeking to increase spending on nuclear command and control and investment in the new Columbia class nuclear submarine made by General Dynamics (NYSE: GD) and Huntington Ingalls (NYSE: HII). The government also is continuing to invest in Lockheed Martin's (NYSE: LMT) F-35 fighter.
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Source Fool.com
