An Economic Timeline Regarding US Military Spending (in billions)
1942 $260 (estimated)
1944 $850 (estimated)
WWII ENDS
1946 $556.9
1947 $52.4
COLD WAR BEGINS
1948 $103.9
1949 $144.2
1950 $141.2
KOREAN WAR BEGINS
1951 $224.3
1952 $402.1
1953 $442.3
KOREAN WAR ENDS
1954 $420.9
VIETNAM BEGINS
1955 $376.9
1956 $356.2
1957 $360.9
1958 $352.9
1959 $352.5
1960 $344.3
1961 $344.0
1962 $363.4
1963 $368.0
1964 $364.4
1965 $333.1
1966 $356.2
1967 $412.0
1968 $449.3
1969 $438.1
1970 $406.3
1971 $370.6
1972 $343.8
1973 $313.3
1974 $299.7
1975 $293.3
VIETNAM ENDS
1976 $283.8
1977 $286.2
1978 $286.5
1979 $295.6
1981 $317.4
1982 $339.4
1983 $366.7
1984 $381.7
1985 $405.4
1986 $426.6
1987 $427.9
1988 $426.4
1989 $427.7
GULF WAR BEGINS
1990 $409.7
1991 $358.1
GULF WAR ENDS
COLD WAR ENDS
1992 $379.5
1993 $358.6
1994 $338.6
1995 $321.6
1996 $307.4
1997 $305.3
1998 $296.7
1999 $298.4
2000 $311.7
AFGHANISTAN WAR BEGINS
2001 $307.8
2002 $328.7
IRAQ WAR BEGINS
2003 $404.91
2004 $455.91
2005 $495.3
2006 $535.9
2007 $527.4
2008 $494.4
2009 $494.3
2010 $685.1
2012 $1000-1400 (estimated)
Now, that last number is freaky. $1.4trillion on defense. Ho-ly shit, right? But, wait! We forgot something!
Inflation.
In 2001, the dollar was worth $1.25 of modern dollars; in 1991, it was worth $1.65; in 1980, it was worth $2.85; in 1970, it was worth $5.80; in 1960, it was worth $7.50. So, really, the seemingly-low 1974 $300billion (a 25% reduction as we slowly pulled out of our two-decade-old war in southeast Asia) was really more like $1.5trillion in modern currency – that’s more than we are spending now. The budget in 1944, at the height of the last World War, was a modern $10trillion! Ah, fun with economics…
Anyway, I just wanted to share these numbers with you, because a lot of people talk about our defense spending, and I wanted to put it into a little perspective. Though it seems like we spend a lot, now, we actually spend far less than we used to; we’re spending about as much now as we did at the height of the Cold War, in the 1980s (right before we won).
I’m not here to justify military spending – it is a ton of money. But I really do wish people would look at these numbers and think a little bit about them before freaking out. Sure, 40% of arms sales are US-based. Yes, we spend 600% more on our military than China. But China isn’t fighting in the Third World War. In comparison to the last major military conflict we had (Vietnam), we’re actually quite frugal, all things considered. And, compared to what we spend in the last World War, it’s extremely impressive. Even if we weren’t at war, we’d still have a globalized military force, and even at $300bil-$400bil a year to maintain it…it’s actually pretty impressive, comparatively-speaking.
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You’re the fucking man, I really appreciate you having that time line up there for some general guidance. I’m writing a paper for my film class. It’s going draw correlation between the films portrayal of war through out different eras and the reception of american audiences. I want to explain how with the technological advancements in weaponry we make due to the excessive spending we do, has desensitized the american public to the wretchedness of war. Also i get into enemy dehumanization, and how many films do something tantamount when demonizing the enemy in films and providing a lack or character insight or representation of their incentives. American war films are often nationalistically partial. Thank you though again, this was a big help.
Happy to help, Brendon. You’ll find most war films have a nationalist slant (or at least a slant towards one side of the cause or the other). Take note that America’s supposed desensitization may be a myth. Locals near battle sites during the Civil War would take picnics on hillsides to watch the carnage. Violence has always had its spectatorship, from locker-room fistfights to global wars. Be sure to take a look at the final address of President Eisenhower, warning of the Military Industrial Complex, and remember: loving a country makes you a patriot – hating a country makes you a nationalist.