Quote:
Originally Posted by Fuzz
Oh, quick math looks like 2% of 2.7 trillion GDP = ~$54 billion a year. Our spending is $467 billion, so that's more than 10% a year to defence. Not sure I can agree with that priority...
|
Quote:
Originally Posted by belsarius
FWIW I did some quick calculations of other countries (Latvia and Germany) and yes, 9-10% of actual spending seems to be what they would need to do to meet the 2% of GDP.
|
For reference, the US defence budget last year was US$857.9 billion against a $25.46 trillion GDP, or about 3.3% of GDP. Their overall federal spending was $6.272 trillion, making their percentage spend on their military about 13.7%.
Nobody else comes close to this.