Military Budget Proposal Would Cost an Extra $1.2 Trillion Over 10 Years: Tax Expert

OGDEN, UT - MARCH 15: A F-35 fighter jet take-offs for a training mission at Hill Air Force Base on March 15, 2017 in Ogden, Utah. Hill is the first Air Force base to get combat ready F-35's. They currently have 17 that might be deployed in the fight against terrorism and ISIS in the near future. Photo by George Frey/Getty Images

Albert Einstein is said to have called compound interest “the most powerful force in the universe.” A recent budget analysis shows how that powerful force would affect U.S. fiscal policy if Congress follows recommendations to boost annual military spending by 5 percent per year over the next decade.

Following the House Armed Service Committee’s (HASC) passage of the 2022 National Defense Authorization Act (NDAA) on Sept. 1, HASC ranking member Mike Rogers (R-Ala.) touted that he helped secure a 5 percent increase over the Department of Defense’s topline budget for last year.