What was the military budget in 2008?
U.S. Military Spending/Defense Budget 1960-2021
| U.S. Military Spending/Defense Budget – Historical Data | ||
|---|---|---|
| Year | Billions of US $ | % of GDP |
| 2010 | $738.01B | 4.92% |
| 2009 | $705.92B | 4.89% |
| 2008 | $656.76B | 4.46% |
How much money is spent on national defense?
The United States spent $725 billion on national defense during fiscal year (FY) 2020 according to the Office of Management and Budget, which amounts to 11 percent of federal spending.
When was US military spending at its highest?
Military Expenditure in the United States averaged 552255.51 USD Million from 1949 until 2020, reaching an all time high of 865268 USD Million in 2010 and a record low of 147593 USD Million in 1949.
Does defense spending stimulate economy?
Military spending according to the Keynesian approach is a component of government consumption, which stimulates economic growth by expanding demand for goods and services. Military spending affects economic growth through many channels.
What country spends the most money on the military and national defense?
The United States
The United States spends more on national defense than China, India, Russia, United Kingdom, Saudi Arabia, Germany, France, Japan, South Korea, Italy, and Australia — combined.
Does NASA waste money?
Only 0.5% of the federal budget goes to NASA but 0.5% of a $4.5 trillion budget is a lot of money, $23.3 billion this year to be exact. NASA should not be a priority when issues such as poverty, food insecurity and homelessness exist in America.
What was the budget for the Department of Defense in 2009?
When the budget was signed into law on 28 October 2009, the final size of the Department of Defense’s budget was $680 billion, $16 billion more than President Obama had requested.
What was the budget for the US in 2008?
The President’s budget for 2008 totals $2.9 trillion. Percentages in parentheses indicate percentage change compared to 2007. This budget request is broken down by the following expenditures: Mandatory spending: $1.788 trillion (+4.2%) $608 billion (+4.5%) – Social Security. $386 billion (+5.2%) – Medicare.
How much money does the US spend on National Defense?
The United States spent $725 billion on national defense during fiscal year (FY) 2020 according to the Office of Management and Budget, which amounts to 11 percent of federal spending.
What was the defense budget for the US in 2017?
U.S. military spending/defense budget for 2018 was $648.80B, a 7.1% increase from 2017. U.S. military spending/defense budget for 2017 was $605.80B, a 0.95% increase from 2016. U.S. military spending/defense budget for 2016 was $600.11B, a 0.67% increase from 2015.