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The Effects of Military Spending

Introduction

The United States' Military Spending is a very controversial topic, which is constantly under discussion in the media and in various other platforms. Even in the recent United States election campaign, Military Spending was a very hot topic for both candidates. President Obama felt that the Military Budget needed to fall to help the United States' Public Deficit, which is in excess of $16 Trillion (United States Department of Treasury, 2010). Obama proposed a defense budget cut of $487 billion (USA Today, 2012) over the next decade.

In contrast, Governor Romney, if elected, would have increased the Military Budget of the United States. He wanted to reverse all of the Obama's Military Budget cuts and increase the number of troops to the United States Army's ground forces by at least 100,000 (Washington Post, 2012). Even at the presidential level, military spending is such a contentious topic that both parties had an absolute polar opposite view. So the question arises that is military spending beneficial or detrimental to the development of the United States' economy?

There are several views by experts who feel that a high Military Budget is harmful for the United States' Economy. They argue that the United States' Military Budget is already too high with a global military spending share in excess of 40% (SIPRI, 2011). They also argue that the United States' high deficit is worsened by such an enormous Military Budget, which is in excess of $700 Billion (SIPRI, 2011). Some economists also believe that the amount saved via Military Budget cuts can be used to create jobs in other sectors such as in education or in healthcare.

In contrast, supporters of the increase in United States' Military budget argue that a high Military Budget in essential for maintaining national security. In such dangerous times, with rising enemies of the state, the United States needs to remain vigilante and strong to deter possible attacks against the country. To support such an undertaking, Military Spending needs to rise. They also argue that the better the security situation within the United States, the easier it is to attract foreign and local investors to invest in the United States' economy. The resulting increase in investment will be a boon for the economy's progress. The increase in Military Spending would also support the improvement in the Army's training equipment and facilities. A highly trained army is imperative for handling emergency and disaster situations in the most efficient and effective manner. They also feel that a high Military Budget is also essential to the research and development of the most technically advanced and sophisticated weaponry. Such weaponry can be a deciding factor especially during the heat of a battle.

Overall, both parties make very valid points; therefore, to make a sound judgment, we need to take a deeper look into the Military Budget and into its impact on the United States' economy.

Discussion

Spending

Military Spending

The Department of Defense has developed a chart ...