The next U.S. president will be faced with updating the nation’s aging nuclear arsenal just as a slew of conventional weapons systems come due for replacement. The resulting acquisition “bow wave” threatens to overwhelm the Pentagon’s budget in the coming decades. The nation’s nuclear triad—the U.S. Navy’s Ohio-class ballistic missile submarines, the Air Force’s Cold War-era B-52 strategic bombers and the silo-based intercontinental ballistic ...

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