The U.S. Navy can’t meet its funding needs for
surface warships and a new class of nuclear attack submarines from 2025 to
2034, according to the service’s latest 30-year shipbuilding plan.
Click on image to enlarge |
The congressionally required blueprint, submitted
late last week and obtained by Bloomberg News,
says the Navy’s plan “requires funding at an unsustainable level” unless
spending on shipbuilding is increased.
The document outlines challenges facing the plan to
increase the Navy fleet to 306 vessels from the current 289 while building 12
new Ohio-class submarines, part of the nation’s nuclear triad of air, land and
sea weapons.
The Navy report provides one service’s challenges
beyond the Pentagon’s current five-year funding plan in an era of declining
defense spending. After 2019, the Defense Department
will confront a confluence of expenses that includes the new submarines,
planned full production of Lockheed
Martin Corp. (LMT)’s F-35 fighter jet and a new Long-Range
Strike bomber.
The average cost of the Navy plan during the period
when the service will be spending the most on the new submarine is $19.7
billion a year, including more than $24 billion at the peak year of fiscal
2032, according to the report.
This budget “cannot be accommodated by the Navy from
existing resources -- particularly if” the Pentagon remains under
congressionally mandated automatic cuts known as sequestration, the report
said.
The Navy’s historical shipbuilding budget has
averaged about $13 billion a year, in fiscal 2014 dollars.
“Even if the Ohio-replacement program is removed”
from the Navy plan, the average shipbuilding funding required beginning in
fiscal 2020 is as much as $15 billion annually, the report found.
NOTE:
Federal spending has soared over the past decade and government
debt has piled up. The budget situation has recently improved as the economy
has strengthened, but federal deficits are expected to start rising again after
2015. Over the long term, official projections show endless rivers of red ink
unless policymakers enact major budget reforms.
Policymakers should downsize every federal department by cutting
or eliminating the most harmful programs. This essay proposes phasing in
spending cuts that would reach almost $1 trillion annually by 2024. That would
bring spending down from 20.4 percent of gross domestic product (GDP) today to
17.6 percent, which was the level the last time the budget was balanced in
2001. Read more…
January 20, 1993 –
January 20, 2001
Bill Clinton,
Presidential term
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