By Ryan McMaken
Mises.org
August 15, 2026
As Trump's "Secretary of War" Pete Hegseth demands a fifty-percent increase to the war budget-topping an eye watering $1.5 trillion-it may be instructive to remember that war spending has always and everywhere been the primary enemy of sound money. Some advocates of the warfare state like to lay the blame on social spending, but it has historically been wars that end up ruining currencies and blowing the top off the public fisc.