With Donald Trump planning to put a $54 billion cherry on top of its £600 billion cake, the US defence budget will be larger than the next 7 countries combined – including China, Russia and the UK – equating to 38% of global defence expenditure despite accounting for only 5% of the total population.
So, with enough money to wipe world hunger in one week, who is getting a slice of the cake?
Let’s take a look at some interesting facts regarding the US defence spending…
- The U.S. must spend a full 1% of its GDP just to maintain its munitions store.
- Each day in Afghanistan costs the government more than it did to build the entire Pentagon.
- By 2033 the U.S. will be paying $59 billion a year to its injured war veterans.
- $11 billion was ‘wasted’ or ‘lost’ in Iraq in 2007 alone – enough to pay 220,000 teachers salaries.
- Defence spending today is the highest its ever been since World War II.
- The yearly cost of stationing one soldier in Iraq could feed 60 American families.
- The US military is the largest consumer of oil in the world.
- 54% of all US tax dollars go to defence spending.
- The United States provides about $9 million dollars per day in military aid to Israel.
- The United States government spends 700% more on the military than it does on education.
Following suit for the majority of Trumps announcements, the budget plans have caused controversy and divided opinions, though one thing can be agreed upon – the defence industry will be seeing dollar signs.
The top 10 weapons manufacturers pocketed $2.8 trillion from the War on Terror alone, and with this influx of cash, that is only predicted to keep on rising.
Do you have the market insight to know where, when and who to target and win these lucrative contracts?
How will you get your slice?
To find out how, get in touch below…