Military Spending: Charting the Future

Jan 26, 2012

This chart shows past military spending and several different projections of future military spending. The current projections from the administration are a compromise that do not meet what the debt reduction deal requires.

The purple bar labeled "FY 2012 Appropriated" shows military spending for the current fiscal year.

The three bars on the right show projected military spending in 2021 as outlined in (1) the president's 2012 budget proposal (light green bar); (2) the president's revised proposal, announced by Secretary of Defense Leon Panetta on January 26, 2012 (dark green bar); and the requirements of the debt reduction deal (blue bar on the right).

Key points on this graph:

• In all three scenarios, military spending is greater in 2021 than it is today.
• Military spending in 2021 under the debt reduction deal is roughly the same as military spending in 2007, as adjusted for inflation.
• Military spending is on an upward trend, increasing between 2011 and 2012.

See the PDF version of this graph here.