Defense Spending Over Time
The composition of defense spending has changed over time.
https://www.pgpf.org/chart-archive/0315_defense_spending_change
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The composition of defense spending has changed over time.
https://www.pgpf.org/chart-archive/0315_defense_spending_change
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
This fall, PGPF research staff will publish a series of one-page articles, providing objective analyses on major government programs and policies.
The U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.
President & CEO David Walker discussed why the President should establish a fiscal commission by Presidential Order now that Congress has defeated the amendment that would have created a statutory commission.
https://www.pgpf.org/press-release/2010/01/pgpf-discusses-issues-addressed-in-state-of-the-union
The United States spends more on defense than the next 9 countries combined.
Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2023.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the latest data for Fiscal Year 2024, charted out monthly and on a year-over-year basis.
Even party extremes want bipartisan progress: 93% of Liberal Democrats and 85% of Tea Party supporters strongly agree that both parties should work together to solve our long-term fiscal and economic problems.
67% of registered voters strongly agree that "I am willing to do my part to reduce the national debt, as long as other people also do their part."