Defense Sec. Pete Hegseth and General Dan Caine testify on Trump's budget request — 4/29/2026

Watch on YouTube ↗  |  April 29, 2026 at 20:10  |  5:53:05  |  CNBC
Speakers
Pete Hegseth — Secretary of Defense

Summary

The House Armed Services Committee holds a hearing on President Trump's $1.5 trillion FY27 defense budget. Secretary Pete Hegseth and General Dan Caine testify on the need to reverse defense underinvestment, modernize the military, and support ongoing operations in Iran, while facing sharp partisan criticism over the war's cost and strategy.

  • Secretary Hegseth presents a $1.5 trillion budget focused on defense industrial base revitalization, troop pay, and modernization.
  • The hearing features heated exchanges over the Iran war, including its cost, the Strait of Hormuz blockade, and rising gas prices.
  • Hegseth highlights $50 billion in private defense investments and multi-year procurement deals as evidence of success.
  • General Caine emphasizes the need for sustained investment to maintain military superiority amid evolving threats.
  • Several members question the administration's strategy, accountability, and the impact on military readiness and allied relations.
  • Hegseth endorses Bitcoin as a strategic national security asset and confirms the department is leveraging it.
Trade Ideas
Pete Hegseth Secretary of Defense 26:45
Historic budget boosts defense contractors.
President Trump's historic $1.5 trillion FY27 defense budget, combined with multi-year procurement agreements and a shift to a business model, sends an unambiguous demand signal to defense contractors to build more and faster, triggering a surge in private investment, new facilities, and manufacturing expansion. This reversal of years of underinvestment will drive growth across the defense industrial base.
ITA HIGH
Pete Hegseth Secretary of Defense 284:08
Bitcoin is a strategic asset.
Bitcoin is a strategic tool for power projection, and the US must secure a strategic advantage as adversaries like China and North Korea stockpile it. The Department of War is actively leveraging Bitcoin in classified efforts, and the speaker endorses it as a national security priority, implying bullish outlook for its value and adoption.
BTC HIGH
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This CNBC video, published April 29, 2026, features Pete Hegseth discussing ITA, BTC. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Pete Hegseth  · Tickers: ITA, BTC