The United States of America is the world's biggest military spender and allocates more on its war machine than any other nation in the world. The U.S. paid $661 billion to the armaments industry in 2009, a recession year, according to the Stockholm International Peace Research Institute (SIPRI). "This represented 43 percent of the total global spend, and was $47 billion higher than the 2008 U.S. expenditure, according to SIPRI." America has increased military spending by 63 precent since 2000, according to SIPRI. This increase has partially been driven by the wars in Afghanistan and Iraq.
Joseph Stiglitz and Linda Bilmes estimate the "budgetary and economic costs" of the wars in Iraq and Afghanistan will now be "between $4 trillion and $6 trillion". An upwards revision of 25 percent in just two years. The U.S. has already spent $1 trillion in Iraq and "spending in Iraq and Afghanistan now comes to more than $3 billion weekly, making the wars a major reason for record-level budget deficits."
continued at Daily Kos....
