Nathan R. Clark is an expert in transaction agreements and armaments at EverGlade Consulting

The Department of Defense's proposed budget for 2024 is $842 billion. That is about 3.5% of the U.S.'s GDP. The military buys everything from pens and paper clips to fighter jets and submarines. But the market for military equipment is very different from the commercial market.

On today's episode, we're bringing you two stories from The Indicator's series on defense spending that explore that market. As the U.S. continues to send weapons to Ukraine and Israel, we first look at why defense costs are getting so high. Then, we dive into whether bare-bones manufacturing styles are leaving the U.S. military in a bind.

The original Indicator episodes were produced by Cooper Katz McKim with engineering from Maggie Luthar and James Willetts. It was fact-checked by Sierra Juarez and Angel Carreras. They were edited by Kate Concannon and Paddy Hirsch. Alex Goldmark is Planet Money's executive producer.

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Apr 22, 2024

On March 05, 2024, the European Commission unveiled its first-ever European Defense Industry Strategy (EDIS). This announcement comes at an unprecedented moment in history.  In Ukraine, the situation remains a dire tactical stalemate, while belligerent Russia seems more threatening than ever to the European bloc. In the US, despite the efforts of the Biden administration, aid to Ukraine stalled for months and remains a contentious issue in Congress. Across Europe, EU Member States are trying to fill the gap in aid, but are struggling to supply Ukraine with the defense systems it urgently needs. On February 10, at a rally in South Carolina, former President and presidential candidate Donald Trump cast doubt on whether he would defend or surrender to Russia any European country that would fail to achieve NATO’s 2%-of-GDP target for defense spending.

New Haven : Yale University Press, 2008.

Turkey’s new production line, established with the locally-produced machines, came into service for a state-run shell factory on May 8. 

First daughter Ivanka Trump continued to engage with world leaders as she accompanied her father in South Korea.