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.
“Today’s new survey shows that fiscal concerns are top of mind in this election, and they want leaders who are committed to solutions,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/04/fci-press-release
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.
The U.S. spent $820 billion on national defense during fiscal year (FY) 2023 according to the Office of Management and Budget, which amounted to 13 percent of federal spending.
https://www.pgpf.org/budget-basics/budget-explainer-national-defense
Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2023.