Corrupt politicians and neoliberal economists tell the lie that America cannot afford Medicare and Social Security. How then can America afford the $1.1 trillion annual military/secrity budget? – Paul Craig Roberts
The most recent figures related to President Trump’s proposed increases in Pentagon spending, along with cuts at the State Department, show the general national security budget of the United States rising once again, with the 2018 proposal in the ballpark of $1.1 trillion.
Needless to say, that’s the biggest military budget on the planet by a far measure. As the figures are broken down into their component parts, however, it becomes particularly shocking just how money is disappearing not just into the general war-fighting budget, but into related costs of having such a massive military for so long.
For interest, Veterans Affairs is expected to eat up $183.5 billion, which by itself comes very close to being the second largest military budget on the planet, just behind China’s $200 billion overall cost for its vast military. Figuring in other retirement costs, the cost of retirees is even bigger.
This $1.1 trillion also includes over $112 billion that just represents the interest on the military’s share of America’s massive national debt. This interest alone would be more than the cost of NATO’s next two largest member nations’ militaries, Britain and France.
Even cuts in international affairs don’t really put a debt into how much the cost of everything else is rising, and with plans for a massive modernization scheme related to America’s massive nuclear weapons arsenal, the $21.8 billion nuclear weapons expenses for 2018 could easily explode manyfold, with the expectation that they’ll dump well over $1 trillion just in the modernization scheme over the years to come.
The costs of retirees and debt are likewise things that could rapidly grow out of control, as increases in the amount being spent on fighting in the present inevitably leads to even more retirees and an even vaster debt to service.
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Posted by VTN on June 2, 2017, With 0 Reads, Filed under Economics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.