Ronald Reagan built the military of today, the military that keeps our peace. We can not live forever on that legacy our challenge is to build a military that will deter and win the wars of the future, President Bush told the crowd of dignitaries, officials, and well-wishers. Like President Reagan before him, Bush wants to increase military spending and also give Americans a big tax cut. But, for now, the tax cut is clearly the priority, which could mean tight budgets for the Pentagon. Aircraft carriers like the USS Reagan cost over four billion dollars to build.
Military analysts say that makes the carriers a tempting target for budget-cutters.
Smaller, cheaper ships and land-based aircraft could eventually assume some of the work now done by carriers. Yet, near some flashpoints like Taiwan, the U.S. has few bases and few allies, leaving no clear alternative to an aircraft carrier to protect American interests. As the Bush administration carries out its defense strategy review, due back in September, Pentagon planners will have to decide whether the United States still needs its fleet of 12 aircraft carriers or whether it should buy new weapons designed to meet new threats. ABC News Internet Ventures.