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And since military spending accounts for about 13 percent of the federal budget, it is an obvious target for anyone who wants to reduce the annual deficit and control the ever-expanding national debt.
Not only that but also military production is low in volume. [7] EU countries like Germany have for a long while been reducing their military spending. [8] With a NATO member's average spending in 1989 being 4% of GDP, the number of tanks and equipment have been slashed alongside spending. In 2014 that same spending had dropped to 1.4%.
Add to that the nondiscretionary spending on defense, like veterans benefits, which is separate from the U.S. defense budget, and annual defense spending has already crossed the $1 trillion mark.
Defense spending outlays (including "overseas contingency operations" for Iraq and Afghanistan) will be reduced from $670.3 billion in 2012 to approximately $627.6 billion in 2013, a decrease of $42.7 billion or 6.4%. Defense spending will fall again to $593.4 billion in 2014, a decrease of $34.2 billion or 5.5%.
Democrats are evenly divided between spending cuts and a spending freeze. [150] According to a Pew Research poll in March 2010, 31% of Republicans would be willing to decrease military spending to bring down the deficit. A majority of Democrats (55%) and 46% of Independents say they would accept cuts in military spending to reduce the deficit ...
“The good news associated with the Pentagon’s 1.6% increase in the 2022 budget of $715 billion versus 2021, is that non-defense domestic discretionary spending will surge 16%, with education ...
The budget bill was the spending counterpart to the revenue bill, the Economic Recovery Tax Act of 1981. The two bills progressed through Congress and were signed by the President together. Ronald Reagan was elected on his platform of reducing overall federal spending while increasing spending on the military, cutting taxes and balancing the ...
In 2023, the Pete G. Peterson Foundation found that America's $877 billion in defense spending topped the next 10 countries' combined expenditures of $849 billion.