Exclusive: Trump weighs using $2 billion in CHIPS Act funding for critical minerals, sources say https://t.co/2CdXuoepYA
US could meet critical minerals needs from mining waste, study finds https://t.co/58mQDCnBmQ
This is just the beginning. The US will stockpile all critical minerals. We’ve spent decades outsourcing production to China. Oh, and we’ve drained our strategic reserves. When it’s for National Defense, there’s no such thing as too much stockpiling! https://t.co/0bQoN3c60e
The U.S. Defense Department is preparing to spend more than $3.5 billion to refill missile interceptors and other munitions expended during Israel’s recent clashes with Iran and ongoing operations in Gaza, according to budget documents drafted through mid-May. The package, which includes at least $1 billion for RTX Corp. missiles, highlights the cost of maintaining an expanded U.S. military presence in the Middle East. In Jerusalem, Prime Minister Benjamin Netanyahu’s cabinet approved an additional 30 billion shekels (about US$8.9 billion) for the 2025 state budget, directing the bulk of the funds to defense. The increase, coming just five months after the previous budget was passed, raises the government’s planned deficit to 5.2% of GDP and will be partly offset by a fixed 3.35% cut to all other ministries. The twin spending moves underscore the mounting fiscal burden of the protracted regional conflict. Washington is absorbing the cost of backfilling weapons used in Israel’s defense, while Israel is diverting further resources to its military campaign after a 12-day exchange with Iran in June and continued fighting in Gaza.