Graph of the Day for September 22, 2009

If I hear another thing about “too much defense spending” I’m going to hurl.

Dear friends, please check out the actual numbers:

American Thinker Blog: Graph of the Day for September 22, 2009

Graph of the Day for September 22, 2009
Randall Hoven
“The United States will be paying the price of Iraq for decades to come. The price tag will be all the greater because we tried to ignore the laws of economics — and the cost will grow the longer we remain.”

Linda J. Bilmes (former CFO at the Commerce Department, teaches at Harvard University’s Kennedy School of Government) and Joseph E. Stiglitz (professor at Columbia University, chairman of the Council of Economic Advisers under President Bill Clinton, and 2001 Nobel Prize winner in economics), writing in the Washington Post.

National Defense Spending as a Percentage of GDP

Year on year Defense Spending as part of GDP

Hoven’s Index for September 22, 2009

National defense spending as a percentage of total federal outlays in 1990: 23.9%.

National defense spending as a percentage of total federal outlays in 2007: 20.2%.

Source: Calculated from data in Table 455 of the US Statistical Abstract

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