All posts tagged: global military spending

End War Profiteering in the Defense Industry

End War Profiteering in the Defense Industry

America’s national priorities are badly misplaced. Our country spends, with almost no debate, nearly $1 trillion a year on the military while at the same time ignoring massive problems at home. We apparently have unlimited amounts of money for nuclear weapons, fighter planes, bombs, and tanks. But somehow we can’t summon the resources to provide health care for all, child care, affordable housing, and other basic needs. The United States remains the world’s dominant military power. Alone, we account for roughly 40 percent of global military spending; the U.S. spends more on its military than the next 10 countries combined, most of whom are allies. Last year, we spent more than three times what China spent on its military. David Frum: Yes, the U.S. can afford to help its allies Not counting supplemental spending, the United States plans to dedicate about $900 billion to the military this year. Almost half of this amount will go to a handful of huge defense contractors enjoying immense profits, which have significantly increased as a result of the war …