Trump’s $1 Trillion Defense Budget

by Nato Balavadze

In this paper, we discuss:

• How the $1 Trillion figure for US military budget emerged;
• The historical context: military spending constantly on the rise;
• The specific of the FY2026 military budget and the politics of reconciliation between House and Senate; 
• Silicon Valley and the new militarists; and
• How China is responding to this and the future global arms race.

Download PDF: Pentagon Budget September 2025