A Trillion Here… a Trillion there….
An outstanding comparative analysis of the dollar “cost” of US Wars, “then and now”.
Apologies to [either Dirksen or Rockefeller], but certainly, once we have a trillion here, and a trillion there, “pretty soon, you’re talking real money” !
We know these numbers are staggering. Recently [late 2015], Bank of America Merrill Lynch [ BoAML ] produced analysis showing that:
- The US spends more on its defence budget than the next fifteen [15] countries combined
- The US Pentagon spends more than all 50 States in the US spend on health, education, welfare and safety combined
- The US has 5% of the world’s population but almost 50% of total global military spending
Note: Consider the little country in the bottom right-hand corner! [Australia], punching above our weight as they say! More to come
Global Defence Spending
Norwich University has produced this infographic, depicting the comparative size/percentage of military expenditure in wars fought by the United States of America.
Though it lasted fewer than four years, World War II was the most expensive war in United States history. Adjusted for inflation to today’s dollars, the war cost over $4 trillion and in 1945, the war’s last year, defense spending comprised about 40% of GDP. During that time, the government used new methods to raise the required funds and succeeded in accomplishing its goal. While the wars waged in today’s world are significant and costly, they still pale in comparison to the size and financial impact of World War II.
– Online Master of Arts in Military History
Then & Now – The Cost of US Wars
