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Economist Urges Increased Defense Spending Amid Global Threats

4/1/2026

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Summary

Story summary

The economist Peter Morici says the United States must increase defense spending to meet Ukraine and Iran challenges.
He notes America's economic security relies on semiconductors from Taiwan and South Korea.
Losing those allies to China or North Korea could jeopardize U.S. interests.
Morici emphasizes the threat of drones and calls for robust industrial policies while questioning Congress's ability to prioritize spending.

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Story summary

The economist Peter Morici says the United States must increase defense spending to meet Ukraine and Iran challenges.
He notes America's economic security relies on semiconductors from Taiwan and South Korea.
Losing those allies to China or North Korea could jeopardize U.S. interests.
Morici emphasizes the threat of drones and calls for robust industrial policies while questioning Congress's ability to prioritize spending.