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With $700 billion in projected defence cuts, and more than $1 trillion in cuts if a budget agreement can’t be reached by the super-committee, military ‘experts’ are claiming the U.S. will be all but defenseless.Maybe not.
Between 2009 and 2010 defence spending increased 3 per cent even as the economy continued to slow, with the 2012 military budget claiming $1.4 trillion tax dollars.
That amount doesn’t even include classified programs and that money is buying expensive equipment that is just as costly to maintain.
The path is unsustainable as the following charts from CFR’s centre for Geoeconomic Studies will show.
No end in sight: The Aircraft Procurement Plan officially shows that drone purchasing is set to triple between 2012 and 2021
The lowest period of U.S defence spending since World War II, 3.7percent GDP, was in 2000 before the terrorist attacks of 9/11
Because of differences in labour costs, $1 million in the United States will hire fewer soldiers than elsewhere
One-sixth of today's military spending is veterans benefits. By 2033 the U.S. expects to be paying $59 billion a year to injured veterans.
Measured in inflation-adjusted dollars, the defence budget has risen steadily since a trough in 1998 to $1.4 trillion today
Military spending has ranged widely, from less than 1 per cent of GDP in 1929 up to 43 per cent in 1944
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