U.S. Defense Spending Compared to Other Countries
The United States spends more on defense than the next 9 countries combined.
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The United States spends more on defense than the next 9 countries combined.
Americans must task their newly elected officials with tackling the nation's debt — and hold them accountable for results.
https://www.pgpf.org/analysis/for-a-stronger-economy-deal-with-the-debt
The Peterson Foundation works to bring Americans together to find and implement sensible, long-term solutions for our country’s fiscal and economic challenges.
The United States spent $766 billion on national defense during fiscal year (FY) 2022 according to the Office of Management and Budget, which amounted to 12 percent of federal spending.
https://www.pgpf.org/budget-basics/budget-explainer-national-defense
With the national debt surpassing $31 trillion, the next generation of American leaders is making its voice heard.
Over the next several weeks, as the President and Congress confront the "fiscal cliff," they will have a big opportunity to make the right choice.
Following the 2017 tax reform, the federal statutory corporate tax rate in the United States is now more in line with many other OECD countries.
https://www.pgpf.org/chart-archive/0273_statutory_corporate_income_tax_rates
"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.
"When it comes time to start looking under the sofa cushions for savings, Congress should treat direct spending and tax expenditures equally," writes Betsey Stevenson.