The White House issued a presidential message stating that on the occasion of the Navy's birthday, the President announced an investment of over $150 billion to rebuild the U.S. Navy and revitalize the shipbuilding industry. Since taking office, this administration has secured over $150 billion in investments to usher in a golden age for American shipbuilding. In August, the President signed a National Security Presidential Memorandum directing the Department of War to make more direct investments in the U.S. shipbuilding industrial base to expand warship construction capabilities and create jobs. The memorandum also directed the Secretary of War to establish a fifth naval shipyard, the first in over eighty years, to enhance the nation's submarine and aircraft carrier repair capabilities. Last week, America's largest new shipyard (the first since World War II) began construction on the next generation of U.S. submarines.