Washington, DC (TFC) – Want to know a little bit more about where your tax dollars go? Here are ten quick fact about defense spending. Americans might be surprised to learn about the finances of the American military-industrial complex.
- 54% of all US tax dollars go to defense spending.
- Even though the US only has about 5% of the world’s population, it accounts for roughly 40% of the world’s military spending.
- In March of 2003, a Halliburton subsidiary was awarded a $7 billion contract shortly before (Yes, before.) the Iraq war began to put out oil well fires in Iraq with no competition from other companies. The contract guaranteed profits to the company. Vice President Dick Cheney has profited tens of millions from Halliburton. Incidentally the Halliburton subsidiary did not put out the oil well fires, but subcontracted companies that could actually perform the work.
- The US sells billions of dollars of weapons to Saudi Arabia, a nation with a deplorable human rights record.
- $60 billion was lost to fraud, waste, and abuse during the reconstruction phase in Iraq and Afghanistan. To bring that number into focus, it is enough to give every homeless man, woman, and child in the United States a little over $98,000 each.
- The United States provides about $8 million dollars per day in military aid to Israel.
- The US Department of Defense maintains 662 overseas bases to defend US corporate interests abroad.
- The US military is the largest consumer of oil in the world.
- The ten largest weapons manufacturers profited 2.8 trillion from the War on Terror.
- The United States government spends 700% more on the military than it does on education.
Expanding budgets, expanding wars.
Since this article was originally published, the money continues to pour into defense industry coffers.