CHARTS: U.S. Military Spending Is Totally Out Of Control And Can't Last

The F-35 – $11.4 billion project

Photo: wikipedia commons

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.

The U.S. is grossly overweight in military spending relative to population and GDP

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No sign of a recession in military spending as expenditures continue to rise every year since 2001

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

The U.S. spends more than any country in the world on its military and equipment

Because of differences in labour costs, $1 million in the United States will hire fewer soldiers than elsewhere

The cost of military hardware is growing like mad resulting in less equipment for the money

The U.S. must spend 1 per cent of GDP just to maintain its cutting edge equipment

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

U.S. defence spending is unsustainable and without a direct national threat will likely decline

The U.S. accounts for almost half of all military spending by democracies

This is what all that money goes toward

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