00:00The Congressional Budget Office has dropped a bombshell on President Trump's Golden Dome missile defense plan.
00:06The system could cost American taxpayers $1.2 trillion over 20 years.
00:11And the CBO warns it may not even work.
00:14Trump originally said the Golden Dome would cost $175 billion.
00:19The new CBO estimate is seven times higher.
00:22The system would require roughly 7,800 satellites in orbit,
00:26four separate defensive layers, six radar and missile sites,
00:31and 35 new regional sites to defend against hypersonic missiles and cruise missiles.
00:36About 70% of the cost, roughly $720 billion, goes to space-based interceptors alone.
00:43The CBO says even if it is fully built, an adversary like Russia
00:47or China with a large nuclear arsenal could overwhelm the system.
00:51Some missiles would still hit their targets.
00:54Senator Jeff Merkley of Oregon called the project
00:57nothing more than a massive giveaway to defense contractors
01:00paid for entirely by working Americans.
01:03Congress has already approved $24 billion as a down payment.
01:07The bill for every American household is just beginning.
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