US military budget GDP

How much does the US really spend on its military budget, all components of military and defence?

I see forbe citing that it is 3% of GDP

Is that accurate?

Surely it is massively more than that?

a reply to: TritonTaranis

It was 8.4% in 1960, but was down to 3.3% in 2016.

data.worldbank.org...

originally posted by: Zaphod58
a reply to: TritonTaranis

It was 8.4% in 1960, but was down to 3.3% in 2016.

data.worldbank.org...

IIRC, it was around 11% when Eisenhower made his infamous comment on the MIC, back in the 50's.

66% anyone!

According to the National Priorities Project, the 2015 budget for the military was $598 billion, which represented 54% of all federal discretionary spending. That number didn’t include over $100 billion in veterans spending and $26 billion for nuclear weapons, bringing the total to about $730 billion. 2015 total discretionary spending was $1.1 trillion,so including nuke spending and veterans spending, spending on the military represented 63% of the total. In other words two-thirds of your tax bill! XX Image credit: National Priorities Project chart

link

a reply to: glend

GDP, not the budget? They are entirely different.

a reply to: glend

That's 63% of spending, not of GDP. In 2015, the US GDP was 18,120.71B.

tradingeconomics.com...

a reply to: Blaine91555

Yes , so sorry misread first post.

originally posted by: TritonTaranis
How much does the US really spend on its military budget, all components of military and defence?

I see forbe citing that it is 3% of GDP

Is that accurate?

Surely it is massively more than that?

if u want to know where our money is spent look at social programs. its enormous compared to say the 60's. orders of magnitude larger

The US is still top dog.

List of countries by military expenditures...

en.wikipedia.org...