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The effects of military expenditure on a nation's economy and society, and what determines military expenditure, are notable issues in political science and economics. Generally, some suggest military expenditure is a boost to local economies. [2] Still, others maintain military expenditure is a drag on development. [3]
The economics of defense or defense economics is a subfield of economics, an application of the economic theory to the issues of military defense. [1] It is a relatively new field. An early specialized work in the field is the RAND Corporation report The Economics of Defense in the Nuclear Age by Charles J. Hitch and Roland McKean ( [2] 1960 ...
Military budget of China, USSR, Russia and US in constant 2021 US$ billions Military spending as a percent of federal government revenue. The military budget of the United States is the largest portion of the discretionary federal budget allocated to the Department of Defense (DoD), or more broadly, the portion of the budget that goes to any military-related expenditures.
The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years. The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies .
(The Center Square) — The U.S. fiscal 2025 national defense budget includes over $300 million dedicated for Louisiana bases, programs and vessels. The budget, called the Servicemember Quality of ...
How much the U.S. should allocate to the Department of Defense remains a contentious topic in the debate over government spending. After a great deal of chaos, on March 23—about halfway through ...
Transfer payments to (persons) as a percent of Federal revenue in the United States Transfer payments to (persons + business) in the United States. CBO projects that spending for Social Security, healthcare programs and interest costs will rise relative to GDP between 2017 and 2027, while defense and other discretionary spending will decline relative to GDP.
President Joe Biden's fiscal 2023 budget proposal increases additional military spending as Russia's invasion of Ukraine rages on, and seeks tighter gun