The Pros And Cons Of High Military Spending

The US has been spending an average of around 19 percent of total budget or 3 percent of total GDP every year since early 90s on military. The budget is extremely high for the US compared to it counterparts. Every year the military budget of the country accounts for approximately 40% of global arms spending, that is higher than the nine other biggest military budgets in the world combined. But is the spending on defence worth to the country? What will the US gain from high military spending? What good does it do to the US and global economy? I explored these questions and realised that the spending is enormous and that it is harming the economy of the country. I also came to a conclusion that US should cut its defence budget to invest on education, public service and health.
In the fiscal year of 2014, the federal government of United States spent $3.5 trillion, that is 20 percent of the nation’s Gross Domestic Product (GDP). Of that $3.5 trillion, over $3.0 …show more content…
Of course there are the active troops, but there is also a considerable infrastructure built up around them that requires contractors, trades, consultants, and so on to support the military. Then there are the private businesses that spring up as a result of the military spending, including everything from weapons manufacturers to the restaurants that pop up near military bases. Here again, the free market economists point out that the public dollars going to support those jobs directly or indirectly are actually sucking the equivalent number of jobs—or more—out of the private economy due to the taxation needed to create them.
It really comes down to whether or not you believe a standing military is a necessity. If it is, then some jobs will need to be sacrificed in the private sector to make that happen. Of course, people will still argue about what size that standing military should be. That’s as much a political question as an economic