
Trend in Defense Spending
Defense spending is projected to stay below its historical share of GDP.
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Defense spending is projected to stay below its historical share of GDP.
“This new report provides the latest evidence that our fiscal condition has worsened significantly since the pandemic began, and will need to be addressed once we’re through the COVID crisis,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The United States spent $686 billion on national defense during fiscal year (FY) 2019 according to the Office of Management and Budget, which amounts to 15 percent of the federal budget.
https://www.pgpf.org/budget-basics/budget-explainer-national-defense
National security is both a vital priority and a significant part of the federal budget.
https://www.pgpf.org/infographic/infographic-the-facts-about-us-defense-spending
By making smart, strategic decisions about future national security requirements policymakers can ensure that our military is strong and that we are prepared to defend our nation from threats while also avoiding potential waste of precious national resources
With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
Military activities are funded by federal appropriations to the Department of Defense. Learn more about how military spending is used to meet national priorities in war zones.
https://www.pgpf.org/blog/2020/10/what-are-overseas-contingency-operations
U.S. defense spending increased substantially from 2018 to 2019 relative to other countries.
The United States spends more on defense than the next 10 countries combined.
The U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.