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The accompanying graphs show that US military spending as a percent of gross domestic product (GDP) peaked during World War II. The table shows historical spending on defense from 1996 to 2022, spending for 2023–2024 is estimated. [108] The defense budget is shown in billions of dollars and total budget in trillions of dollars.
The second list is based on the 2024 edition of The Military Balance, published by the International Institute for Strategic Studies (IISS) using average market exchange rates. [2] The third list is a user-generated list of the highest military budgets of the current year, compiled from various sources.
Authorize a $886 billion spending budget for national defense programs including: [20] [21] A 5.2% pay increase for service members of the armed forces. [20] [21] Procurement of up to 13 Virginia-class submarines. [22] [23] Authorize the sale and transfer of defense articles and services relating to the implementation of the AUKUS partnership ...
The Senate is voting Wednesday on final passage of a sweeping defense bill that will authorize significant pay raises for junior enlisted service members and boost overall military spending to ...
The House voted to pass its yearly defense bill Wednesday, adding about another $1 trillion to the $36 trillion national debt. The 1,800-page bill known as the National Defense Authorization Act ...
A recent analysis by the Congressional Budget Office projected that federal spending on debt interests alone would reach $870 billion in 2024, which is not only a 32 percent increase from 2023's ...
The military budget of China is the portion of the overall budget of China that is allocated for the funding of ... 2024: the budget was announced to be 1.67 trillion ...
The act, nearly 3,100 pages long, called for a 5.2% pay raise for service members and increased the nation's total national security budget by about 3% to $886 billion.