Global Military & Defense Budgets

Via Global Issues:

* World military expenditure in 2008 is estimated to have reached $1.464 trillion in current dollars

* This represents a 4 per cent increase in real terms since 2007 and a 45 per cent increase over the 10-year period since 1999;

* This corresponds to 2.4 per cent of world gross domestic product (GDP), or $217 for each person in the world;

* The USA with its massive spending budget, is the principal determinant of the current world trend, and its military expenditure now accounts for just under half of the world total

By the way, the United States defense spending is the equivalent of paying $2700 for every American citizen. No wonder we can’t afford universal health care.

“When you’re a hammer, everything looks like a nail”

See Also: Military Spending and Development Aid, Efficiencies of Death, Krugman on the Debt and Deficits, PAYGO and pretend fiscal responsibility, I have scene the future…, Pricing Out an Afghan Surge: $65 Bill Could Go to $105 Billion per Year, The Impending Obama Borrow and Spend Disaster, ‘Pay as you fight’ war surtax introduced, The Globe’s Policeman, How Glenn Beck Can Save the Right, The FY 2010 Defense Authorization, We can have guns or we can have butter… but we can’t have both, and Blaming Bush for the Budget Deficits.

[tags]global defense budgets, defense spending, military spending, global military spending, global spending on military, army, budgets, global army spending, armed forces, national defense, costs, spending, global costs, graphic, image, statistics, percentages, country spending, country budgets, country-by-country numbers, comparison of us spending on military versus other countries, western countries, spending on military, comparison on defense spending, graph[/tags]