the fastest-growing economy for the past nearly 30 years has been China, which spends a fraction on their military of what the US spends on its
the US has been at war for 19 of the last 47 years (not counting US-backed insurgencies such as 1980s Afghanistan, on which we spent billions) but has not grown faster than the other two economically
US overspent on its military because Washington mistakenly thought the Soviet economy was twice as big as it actually was, and vastly over-estimated Soviet military capabilities. The bloated military budgets continue now, apparently because of a couple thousand al-Qaeda operatives hiding out in caves in the Hadhramawt and Waziristan.
US Military Budget 2009: $711 billion
European Union Military Budget 2009: $289 billion
European Union Military Budget 2009: $289 billion
China Military Budget 2009: $122 billion.
US GDP 2009: $14.4 trillion
European Union GDP 2009: $16.5 trillion (PPP)
US GDP 2009: $14.4 trillion
European Union GDP 2009: $16.5 trillion (PPP)
China GDP 2009: $8.8 trillion (PPP)
US economic growth 2009: 0.2%
European Union economic growth 2009: -4%
European Union economic growth 2009: -4%
China economic growth 2009: 8.7 %
The real military-related expenditures of the US are closer to $1 trillion. If the US cut those back to the level of the European Union and spent the money on promoting solar energy and making it inexpensive, America would have a chance of remaining a great power in the 21st century. If it goes on rampaging around the world bankrupting itself by invading and occupying other countries, the Chinese will laugh at us all the way to world dominance.
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