Military budget

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A military budget (or military expenditure), also known as a defense budget, is the amount of financial resources dedicated by a state to raising and maintaining an armed forces or other methods essential for defense purposes.

Military budgets often reflect how strongly a country perceives the likelihood of threats against it, or the amount of aggression it wishes to conjure. It also gives an idea of how much financing should be provided for the upcoming fiscal year. The size of a budget also reflects the country's ability to fund military activities. Factors include the size of that country's economy, other financial demands on that entity, and the willingness of that entity's government or people to fund such military activity. Generally excluded from military expenditures is spending on internal law enforcement and disabled veteran rehabilitation. The effects of military expenditure on a nation's economy and society, and what determines military expenditure, are notable issues in political science and economics. There are controversial findings and theories regarding these topics. Generally, some suggest military expenditure is a boost to local economies. Still, others maintain military expenditure is a drag on development.

Every year in April is the Global Day of Action on Military Spending (GDAMS), which aims to gather people and create a global movement that persuades governments to reallocate their military spending to essential human needs such as food, education, health care, social services and environmental concerns.

Among the countries maintaining some of the world's largest military budgets, China, France, Germany, Japan, Russia, the United Kingdom and the United States are frequently recognized to be great powers.

According to the Stockholm International Peace Research Institute, in 2014, total world military expenditure amounted to 1.8 trillion US$.

Video Military budget

Historic expenditure

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:

• United States: 17%. The United States has fluctuated for decades, depending on the conflict of the time. The first spike in defense spending, and in turn taxes, came during the very beginning of the 19^th century. During World War I, the United States spent 22% of Gross Domestic Product, while during peacetime, the government spent on as little as 1% Gross Domestic Product (GDP). This changed following World War II as the United States and its citizens were experiencing an immense fear of the expansion of Communism and therefore heightened security on all fronts. This was supported by Americans as it brought upon them a sense of security and the 3.6% GDP they were contributing to was a large decrease from the whopping amounts of capital being spent during WWII that exceeded 41%, before decreasing to 10% during the Cold War and for about two more decades after, including the Vietnam War, before beginning to decrease in the 1970's down to 6%, then 5.5% in 1979 before beginning to steadily incline once again. After 2001, though, and the September 11 terrorist attacks, defense spending spiked again, peaking at 5.7% in 2010. Throughout this time, families before the poverty line receive government aid including food stamps from the Supplemental Nutritional Assistance Program (SNAP), medical care from Medicaid and Children's Health Insurance Program (CHIP), early childhood education, and, the biggest contributor that pulls families above the poverty line, the Earned Income Tax Credit Program (ETIC) which provides an income tax refund to those with low incomes, with a specific focus on couples with children.
• Russian Empire: 21%
• French Third Republic: 27%
• British Empire: 39%
• German Empire: 43%
• Empire of Japan: 55%

Maps Military budget

Projected expenditure

A 2014 academic report from the United Kingdom's Ministry of Defence outlines projected defence expenditure of major powers for the year 2045.

(all spending figures are adjusted for PPP, and are expressed in billions of US dollars, at 2012 values)

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See also

src: watson.brown.edu

References

src: www.telesurtv.net

External links

• Hicks, Louis; Raney, Curt. "The Social Impact of Military Growth in St. Mary's County, Maryland, 1940-1995". Armed Forces & Society. 29: 3. 

Source of article : Wikipedia