In this show, William Hartung, senior research fellow at the Quincy Institute for Responsible Statecraft, takes a hard, unvarnished look at the extraordinary growth of the U.S. defense budget. Now just under $1 trillion, President Trump is requesting a 50 percent increase for FY 2027—pushing defense spending to $1.5 trillion.

Hartung explains how, despite hopes to the contrary, the end of the Cold War led not to a peace dividend but to continued and accelerating military spending. He examines how consolidation within the defense industry, now dominated by five major corporations, has fueled cost overruns, reduced competition, and weakened accountability.

The conversation also explores the growing role of Silicon Valley–based defense startups, the influence and profitability of defense lobbying, and the surprisingly small impact the defense industry has on overall employment, despite frequent claims by politicians.

This program was recorded on January 21 for WorldNow with Jim Falk as a virtual book talk presented to members of World Affairs Councils across the country.