The US military’s buying power to reduce by $110 billion in the near future amid a face-off with China, an industry group says The US Department of Defense will need an extra $42 billion in the next fiscal year to account for soaring inflation and rising procurement prices, according to the National Defense Industrial Association. In a report released on Tuesday its estimated that the Pentagon will experience a $110 billion loss of purchasing power because of record-high inflation. It also warns that this development “comes at a dangerous time” as the US faces challenges from China and still suffers from Covid-19
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