The U.S. Coast Guard is facing a growing financial crisis, carrying a debt burden of roughly $300 million that is now forcing officials to consider service cuts across operations at home and abroad, according to multiple reports and internal discussions cited by defense officials.
The shortfall, driven by rising operational costs, aging infrastructure, and increased mission demands, has put pressure on a branch of the military that plays a critical role in maritime security, search and rescue, drug interdiction, and national defense support, according to CBS News.
