Tag Archives | U.S. Military Spending

U.S. foreign policy: A bipartisan embrace of militarism

Originally published: Reports from the Economic Front on May 17, 2023 (more by Reports from the Economic Front)

In December 2022, President Joe Biden signed into law the National Defense Authorization Act, approving “national defense” spending of $858 billion for fiscal year 2023
U.S. makes up c 40% of global military spending, 10x Russia, 3x China

Originally published: Geopolitical Economy Report on May 2, 2023 (more by Geopolitical Economy Report) |

The United States spent $877 billion on its military in 2022, nearly 40% of the global total, 10 times more than Russia ($86.4 billion), and three times more than China ($292 billion). The U.S. military budget is larger than the next 10 biggest spenders combined.