{
  "id": 20173949,
  "title": "Pete Hegseth’s $1.5 trillion Pentagon budget request is DOA after Democrats swept midterms, but global defense spending could still hit $8 trillion",
  "url": "https://urgent.news/2026/11/15/pete-hegseths-1-5-trillion-pentagon-budget-request-is-doa-after",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-15T12:00:00.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/11/15/pentagon-military-budget-in-jeopardy-global-defense-spending-hit-8-trillion/"
  },
  "original_language": "en",
  "account": "A proposed $1.5 trillion budget for the Pentagon in 2027 has been deemed too high by Rep. Adam Smith, the top Democrat on the House Armed Services Committee. Smith wants a smaller military budget and an investigation into the Pentagon's dealings with defense contractors. The current global defense spending is projected to exceed $8 trillion, making up 2.0% of the GDP among the G7 countries. The U.S. accounts for around one-third of this spending, reaching $1 trillion in fiscal 2026. Europe's defense spending has increased to €418 billion ($461 billion) in 2025 and is expected to rise to €454 billion ($500 billion) this year. This increase is attributed to ongoing conflicts and a shift in view towards security. The U.S. is expected to face increased scrutiny on its military budget due to the Democrats gaining control of both the House and Senate.",
  "summary": "“What is driving this whole enormous bill? In Europe, it's the combination of the war for four years in Ukraine and Russia, and the unreliability of the United States to support NATO.”",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Hindustan Times - World News",
        "title": "Trump blames Democrats for $3 trillion US stock market loss after 2026 midterms",
        "url": "https://urgent.news/2026/11/15/trump-blames-democrats-for-3-trillion-us-stock-market-loss-after-2026",
        "published": "2026-11-15T04:11:11.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}