.Trillions to Burn?
A Quick Guide to the Surge in Pentagon Spending
With his decision to further boost defense spending, President Obama is continuing the process of re-inflating the Pentagon that began in late 1998 – fully three years before the 9/11 attacks on America. The FY 2011 budget marks a milestone, however: the inflation-adjusted rise in spending since 1998 will probably exceed 100% in real terms by the end of the fiscal year.
Taking the 2011 budget into account, the Defense Department has been given about $7.2 trillion since 1998, when the post-Cold War decline in defense spending ended. Approximately $2.5 trillion of this total is due to spending above the annual level set in 1998. This added amount constitutes the post-1998 spending surge.
Military operations overseas are responsible for less than 17% of all the money spent since 1998, and for less than 50% of the funds added above 1998 levels. Chart 1 gives a visual overview of the rise in spending between 1998 and 2010, showing how much was allotted variously to war and to normal peace-time military activities.
PDA
With his decision to further boost defense spending, President Obama is continuing the process of re-inflating the Pentagon that began in late 1998 – fully three years before the 9/11 attacks on America. The FY 2011 budget marks a milestone, however: the inflation-adjusted rise in spending since 1998 will probably exceed 100% in real terms by the end of the fiscal year.
Taking the 2011 budget into account, the Defense Department has been given about $7.2 trillion since 1998, when the post-Cold War decline in defense spending ended. Approximately $2.5 trillion of this total is due to spending above the annual level set in 1998. This added amount constitutes the post-1998 spending surge.
Military operations overseas are responsible for less than 17% of all the money spent since 1998, and for less than 50% of the funds added above 1998 levels. Chart 1 gives a visual overview of the rise in spending between 1998 and 2010, showing how much was allotted variously to war and to normal peace-time military activities.
PDA
posted by madtom at 11:01 PM
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