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Global military spending rose 6% to $1.53T in 2009, despite the economic travails of the...

Global military spending rose 6% to $1.53T in 2009, despite the economic travails of the developed nations, and is expected to continue surpassing global GDP growth. Josh Green says defense cuts would be one way to pay for things we desperately need - such as another stimulus.
Comments (10)
  • History Buff 24/7
    , contributor
    Comments (415) | Send Message
    Considering that wars tend to follow huge economic upheavals you could look at the military spending as a form of insurance.
    18 Jun 2010, 03:28 PM Reply Like
  • Joshua P
    , contributor
    Comments (21) | Send Message
    I would agree, war seems to always be an economic driver after major economic disasters. No better way to spark industrial demand and rally your population around an "enemy" so that they can forget about the misdeeds placed upon them.
    18 Jun 2010, 03:39 PM Reply Like
  • ehempel
    , contributor
    Comments (106) | Send Message
    War may be better for a government or some select industries, but not for the people as a whole. Imagine where we'd be today if instead of WWII, Hitler had a mediocre art career and retired in obscurity. What would the millions who were killed have created?
    18 Jun 2010, 04:55 PM Reply Like
  • Pat C
    , contributor
    Comments (572) | Send Message
    History Buff, I sure hope we are now wiser than that, but................
    18 Jun 2010, 03:32 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
    Well, we are getting jacked around right now in the Middle East and former Soviet states because we do not have a strong military or a strong military leader. But of course, to most that does not matter because Dancing With Stars or some other equally worth while show is on TV this week. To the rest, its more important that the world love us, which will never happen no matter how much we give away and deteriorate our values.
    18 Jun 2010, 03:40 PM Reply Like
  • Anwar Bhamla
    , contributor
    Comments (98) | Send Message
    Neil 459: Are you advocating that we declare war upon the MidEast and the former Soviet Union States so that they may love us?
    18 Jun 2010, 03:51 PM Reply Like
  • TeamKickAss
    , contributor
    Comment (1) | Send Message
    You want to decrease our military spending, which would get rid of quality R&D, manufacturing, engineering and science jobs, so that we can extend unemployment benefits and replace those jobs with low-income public works jobs? Defense spending is one of the best ways the Government spends its money in comparison to its usual wasteful spending. The war funding can and will continue to decrease as we bring troops back home, but the overall defense budget is vital to the will find that money spent in every state, in every sector of the economy.
    18 Jun 2010, 03:49 PM Reply Like
  • ehempel
    , contributor
    Comments (106) | Send Message
    Uh, not sure where anyone suggested public works jobs ...


    But, yes, its almost a tautology that if we spent less time destroying (war is destruction), then there would be more opportunities for creation. See broken window fallacy.
    18 Jun 2010, 04:58 PM Reply Like
  • ebworthen
    , contributor
    Comments (2811) | Send Message
    We must keep pace with China because they are expanding their hardware spending by the billions and they have a lot more bodies to spare as well.
    18 Jun 2010, 04:49 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6795) | Send Message
    It is BECAUSE of economic travails that military spending is rising. Depressions cause wars.
    19 Jun 2010, 12:42 PM Reply Like
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