On 12 December 1979 the President startled a great many people by announcing in a speech to the Business Council that his FY 1981 defense budget would be $157 billion. This is $20 billion or 15 percent more than the FY 1980 budget that he had sent to the Congress only 11 months previously, Moreover, the President told the business leaders that his FY 1981 budget would lay the foundation for a defense program that would provide for real funding increases of 5 percent per year through FY 1985.
Korb, Lawrence J.
"The FY 1981-85 Defense Program is Trillion Dollars Enough?,"
Naval War College Review: Vol. 33
, Article 2.
Available at: http://digital-commons.usnwc.edu/nwc-review/vol33/iss2/2