Hey, big spender

The United States is in dire straits when it comes to debt—more than $9 trillion at last count (and $8 trillion of that has been accumulated since 1980). Looking at the budget, the military is one of the big-ticket items (to put it in perspective, we spend more on our military than the rest of the world combined). Here’s a list of the countries that spend the most on their military, with approximate budgets:

The United States (fiscal year ‘08)        $623 billion
China (2004)$65 billion
Russia $50 billion
France (2005) $45 billion
Japan (2007) $41.75 billion
Germany (2003) $35.1 billion
Italy (2003) $28.2 billion
South Korea (2003) $21.1 billion
India (2005) $19 billion
Saudi Arabia (2005) $18 billion
World total $1.1 trillion

Source: author Chalmers Johnson (in “Going Bankrupt” article)