Posts Tagged ‘the monetary system has lost traction’

Where exactly do you think this trend is taking us?

December 26, 2010

Both houses of the US Congress unanimously passed a bill authorizing $725 billion for next year’s Defense Department budget.”

Largest military budget since WWII

Carl Conetta, co-director of the Project on Defense Alternatives, earlier this year estimated the 2010 U.S. defense budget to constitute 47 percent of total worldwide military expenditures and to amount to 19 percent of all American federal spending. […]

the 2011 Pentagon budget will mark a milestone in that “the inflation-adjusted rise in spending since 1998 will probably exceed 100% in real terms by the end of the fiscal year.

“Taking the 2011 budget into account, the Defense Department has been given about $7.2 trillion since 1998, when the post-Cold War decline in defense spending ended. Approximately $2.5 trillion of this total is due to spending above the annual level set in 1998. This added amount constitutes the post-1998 spending surge.”

Based on constant 2010 dollars, Conetta further details that the Ronald Reagan administration spent $4.1 trillion on the Defense Department, the Georgia W. Bush administration spent $4.65 trillion and “Barack Obama plans to spend more than $5 trillion.”

Still harboring doubts are you?

The 2010 budget is a full 50% higher than in 2009… 50% higher….


And just as a reminder:


Durable Goods Shipments