Question

In this activity, you will use the information from the US budget and your knowledge of economics to answer the following questions. Question 1: Analyze this information about the US budget and answer the questions that follow. Part A: What was the total spending on the military?

Answer 1

In Fiscal Year 2016, the Department of Defense spent $585 billion. Including other related departments, the total military spending for Fiscal Year 2014 was about $770 billion, representing around 5% of the GDP when including costs for wars and additional defense-related expenses.

Step-by-step explanation:

Total Spending on the Military

According to the provided information, during Fiscal Year 2016, the Department of Defense (DoD) spent $585 billion, an increase from 2015. Including expenses for the DoD, Department of Veterans Affairs, and Department of Homeland Security, the total military spending for Fiscal Year 2014 was approximately $770 billion. It's important to note that this figure doesn't encompass all defense-related spending, as it excludes costs for overseas contingencies like the wars in Iraq and Afghanistan. When considering these additional costs, U.S. defense spending can be around 5 percent of the GDP. This reflects the allocation of financial resources in line with national priorities, often influenced by the ongoing guns versus butter debate in public policy, highlighting the trade-off between military spending and social program funding.