TRUMP: The $54 billion increase in military spending will come from 'a revved up economy'
Host Steve Doocy asked how the White House plans to fund this increase, noting that proposed cuts to the Environmental Protection Agency and the State Department would not cover the cost, and even cutting all funding to both would only leave $50 billion.
"Well, I think the money is going to come from a revved up economy," Trump said.
"I mean you look at the kind of numbers we're doing, we were probably GDP of a little more than 1% and if I can get that up to three or maybe more, we have a whole different ball game."
Trump also said in the interview he would not touch Social Security in budget cuts.
It's really hard to pay for increases in defense spending by only targeting domestic agencies outside of major entitlement programs like Social Security and Medicare, as Business Insider's Linette Lopez recently pointed out.
As the graph below explains, Trump would need to nearly completely eliminate the EPA, State Department, and International Assistance Programs to reach the $54 billion military increase:
Watch the "Fox & Friends" clip explaining the military spending below:
Andy Kiersz contributed to this report.
.@POTUS expects he'll be able to get some of the $54B increase in military spending "from a revved up economy" pic.twitter.com/OJKMAs7geM
- FOX & friends (@foxandfriends) February 28, 2017
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market