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2. 2012. DoD budget: $645.5 billion Year-over-year difference:-6.04% or $41.5 billion The National Defense Authorization Act for fiscal year 2012 was enacted, which implemented major budgetary ...
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.
If there is no data for a particular year, a cell is left blank. Although the database includes statistics for over 150 countries, per SIPRI's Terms and Condition permission is needed to directly reproduce more than 10% of the database.
As of 10 March 2023 the fiscal year 2024 (FY2024) presidential budget request was $842 billion. [b] In January 2023 Treasury Secretary Janet Yellen announced the US government would hit its $31.4 trillion debt ceiling on 19 January 2023; [18] the date on which the US government would no longer be able to use extraordinary measures such as issuance of Treasury securities is estimated to be in ...
As a percentage of GDP, the annual deficit has nearly doubled in just 10 years, from 2.8% in 2014 to a projected 5.3% in 2024. So there's just a lot more borrowing to pay interest on.
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Military expenditure of the world from 1950 to 2022 in constant 2021 US$ billions Defense spending in the UK over time Main article: Past military expenditure by country The Saturday Review magazine in February 1898 outlined the levels of military expenditure as a percentage of tax revenue spent by the then great powers for the year 1897: [ 8 ]
A recent analysis by the Congressional Budget Office projected that federal spending on debt interests alone would reach $870 billion in 2024, which is not only a 32 percent increase from 2023's ...