The media loves to make a big deal out of how much we are spending on one of the key principles of government (as determined by the constitution) – that being our military and the defense of our borders
Today I received an e-mail from Taipan Financial News which shows exactly the percentage of our Gross Domestic Product is currently being spent on our military. Being that this is the anniversary of the attack on Pearl Harbor in 1941, I thought this information was timely and very interesting.
Our GDP is almost $12 Trillion annually, which means our current level of military spending ($600 Billion) is just 5%. Put this address in your browser to see the chart: http://www.taipanfinancialnews.com/images/charts/TFNchart12-07-06.gif
I’ll bet you would have guessed that it was much higher, based upon the talking TV heads and the media hysteria surrounding the whole topic.
Always interesting when you see the facts!