Defense spending has fallen off a cliff under President Joe Biden, shrinking as a percentage of gross domestic product to pre-World War II budgets and the short-lived “peace dividend” days during former President Bill Clinton’s administration.
According to a new budget analysis, the nation is spending just 3.6% of GDP — $866 billion — at a time when it is engaged in multiple military actions, notably in Ukraine, Israel, and the Red Sea, and bracing for a move by China on Taiwan.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.