Military Spending: We’re #1!!!!

The United States has again ranked by far the world’s largest military spender while the troop drawdown from its Afghan war is being cited in a report as contributing to a rare drop in global military spending.

The US still accounted for 39 percent of global military spending, much more than any other country in the world, although its recent budget cuts and withdraw of troops from Afghanistan was credited for a 6-percent decline in American military expenditures compared to the previous year, according to the latest report on global military spending, released Monday by Stockholm International Peace Research Institute (SIPRI).

While reporting the first annual drop in more than a decade in 2012 global military spending, the report underlines that military spending across the world is still higher, in real terms, than its peak at the end of the Cold War due to massive investments by the US and its allies in the arms industries…


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