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Dr. Alex Karp. (Wall Street Journal photo)
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The Nimitz-class aircraft carrier USS Theodore Roosevelt transits the Philippine Sea on April 5, 2024. (DVIDS)
The United States Department of Defense is unlikely to get the sustained funding required to achieve its desired scale and capabilities. Therefore, maintaining costs will be a central challenge for the department. Norm Augustine warned several decades ago about the punishing increases in platform costs, and operating costs have continued to climb. What capital and operational strategies should the department consider? To what extent should the DoD be concerned about deferred costs like veterans’ benefits? And how might the Pentagon address political and cultural obstacles to change?
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Federal Reserve Chairman Jerome Powell is seen with Bank of Japan Governor Kazuo Ueda, European Central Bank Governor Christine Lagarde, and Governor of the Bank of England Andrew Bailey on August 22, 2025, near Jackson Hole, Wyoming. (Natalie Behring via Getty Images)
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A general view of the shipping port in Keelung, Taiwan, on August 1, 2025. (I-Hwa Cheng via Getty Images)
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(Screenshot via Qnews)
