The US no longer has the luxury of being “the policeman of the world.” The welfare-warfare state is insolvent and must cut back dramatically. Our military adventures have weakened us just like Rome before us. The Empire is dying. We can recognize that and take action or continue on the present course which ensures certain fiscal death.
The article below puts the military spending into perspective, although I believe it understates the actual costs. It does so for at least two reasons:
- Military-related expenditures are hidden throughout the budget and not labeled as such.
- The opportunity costs of diverting massive resources and manpower to the military lowers our standard of living.
U.S. Military Spending Has Almost Doubled Since 2001
A new report released today by SIPRI, a Swedish-based think tank, reveals that U.S. military spending has almost doubled since 2001. The U.S. spent an astounding $698 billion on the military last year, an 81% increase over the last decade.
U.S. spending on the military last year far exceeded any other country. We spent six times more than China — the second largest spender. Overall, the world expended $1.6 trillion on the military, with the United States accounting for the lion’s share:
As a percentage of GDP, U.S. military spending has increased from 3.1% in 2001 to 4.8% last year.
The report notes that, “even in the face of efforts to bring down the soaring US budget deficit, military spending continues to receive privileged treatment.” Indeed, House Speaker John Boehner (R-OH) and others on the right are passing legislation increasing defense spending. At the same time, they are insisting on massive cuts to social programs that provide vital assistance to the elderly, the poor and the middle class.