Military

See How the US Military Budget Has Skyrocketed Over the Years

Chris Lange

Published: May 3, 2024 10:50 am

Military spending is paramount to power and success – why the U.S. military is considered one of the most powerful in the world. Compared to other nations, the spending that the United States does on behalf of its military completely dwarfs the competition. (These are the states where the U.S. military spends the most money.)

Here 24/7 Wall St. is taking a closer look at how much the United States has spent on its armed forces over the years. To identify what the U.S. spent on the military each year over the last 50 years, 24/7 Wall St. reviewed data on U.S. military spending from the Stockholm International Peace Research Institute Military Expenditure Database, listing the years 1973-2022. Figures are in current U.S. dollars. We also calculated the percentage change in military spending from the previous year and the spending as a percent of GDP.

In the early 1970s, during the height of the Vietnam War, the U.S. military budget had risen to roughly $80 billion, a more than 50% increase from 1965, when the U.S. first sent troops into Southeast Asia.

In the years following, expenditures continued to steadily rise, and by the early 1980s, military spending accelerated significantly. This surge came under President Ronald Reagan, practically tripling military expenditures of the Vietnam era.

While the 1990s saw defense spending stabilize or even decline in some years, the terrorist attack of Sept. 11, 2001, changed everything. Spending ramped up from here as the U.S. embarked on the War on Terror, again increasing defense expenditures significantly for the following decades. (These are the U.S. military’s biggest weapons programs.)

Here is a look at U.S. military expenditures over the last 50 years:

Why Are We Covering This?

Source: FOTOGRIN / Shutterstock.com

U.S. military expenditure is important for maintaining national security in what is an uncertain geopolitical landscape. It ensures the readiness and capability of armed forces to deter potential adversaries and respond effectively to threats.

1973: $ 81.47 billion

Source: Michael Ochs Archives / Getty Images

• Percent change in spending: 0.94% – #39 largest year over year increase
• Spending as a percent of GDP: 5.89%

1974: $ 89.28 billion

Source: Pictorial Parade / Getty Images

• Percent change in spending: 9.59% – #12 largest year over year increase
• Spending as a percent of GDP: 5.95%

1975: $ 92.08 billion

Source: Archive Photos / Getty Images

• Percent change in spending: 3.14% – #29 largest year over year increase
• Spending as a percent of GDP: 5.62%

1976: $ 94.72 billion

Source: Fortgens Photography / Getty Images

• Percent change in spending: 2.86% – #31 largest year over year increase
• Spending as a percent of GDP: 5.19%

1977: $ 104.67 billion

Source: Michael Ochs Archives / Getty Images

• Percent change in spending: 10.51% – #10 largest year over year increase
• Spending as a percent of GDP: 5.16%

1978: $ 113.38 billion

Source: Space Frontiers / Getty Images

• Percent change in spending: 8.33% – #16 largest year over year increase
• Spending as a percent of GDP: 4.94%

1979: $ 126.88 billion

Source: Tony Duffy / Getty Images

• Percent change in spending: 11.90% – #7 largest year over year increase
• Spending as a percent of GDP: 4.95%

1980: $ 143.69 billion

Source: FPG / Getty Images

• Percent change in spending: 13.25% – #5 largest year over year increase
• Spending as a percent of GDP: 5.15%

1981: $ 176.56 billion

Source: Gene Forte / Getty Images

• Percent change in spending: 22.88% – #2 largest year over year increase
• Spending as a percent of GDP: 5.65%

1982: $ 221.67 billion

Source: Hulton Archive / Getty Images

• Percent change in spending: 25.55% – #1 largest year over year increase
• Spending as a percent of GDP: 6.81%

1983: $ 223.43 billion

Source: Tony Duffy / Getty Images

• Percent change in spending: 0.79% – #40 largest year over year increase
• Spending as a percent of GDP: 6.32%

1984: $ 245.15 billion

Source: Michael Ochs Archives / Getty Images

• Percent change in spending: 9.72% – #11 largest year over year increase
• Spending as a percent of GDP: 6.24%

1985: $ 272.16 billion

Source: Space Frontiers / Getty Images

• Percent change in spending: 11.02% – #9 largest year over year increase
• Spending as a percent of GDP: 6.45%

1986: $ 295.55 billion

Source: Getty Images / Staff

• Percent change in spending: 8.59% – #14 largest year over year increase
• Spending as a percent of GDP: 6.63%

1987: $ 304.09 billion

Source: Rick Stewart / Getty Images

• Percent change in spending: 2.89% – #30 largest year over year increase
• Spending as a percent of GDP: 6.42%

1988: $ 309.66 billion

Source: Getty Images / Staff

• Percent change in spending: 1.83% – #34 largest year over year increase
• Spending as a percent of GDP: 6.07%

1989: $ 321.87 billion

Source: Pascal Rondeau / Getty Images

• Percent change in spending: 3.94% – #26 largest year over year increase
• Spending as a percent of GDP: 5.87%

1990: $ 325.13 billion

Source: Space Frontiers / Getty Images

• Percent change in spending: 1.01% – #37 largest year over year increase
• Spending as a percent of GDP: 5.61%

1991: $ 299.37 billion

Source: Public Domain / Wikimedia Commons

• Percent change in spending: -7.92% – #1 largest year over year decrease
• Spending as a percent of GDP: 4.88%

1992: $ 325.03 billion

Source: Public Domain / Wikimedia Commons

• Percent change in spending: 8.57% – #15 largest year over year increase
• Spending as a percent of GDP: 4.97%

1993: $ 316.72 billion

Source: Public Domain / Wikimedia Commons

• Percent change in spending: -2.56% – #8 largest year over year decrease
• Spending as a percent of GDP: 4.60%

1994: $ 308.08 billion

Source: Phil Cole / Getty Images

• Percent change in spending: -2.73% – #6 largest year over year decrease
• Spending as a percent of GDP: 4.22%

1995: $ 295.85 billion

Source: Public Domain / Wikimedia Commons

• Percent change in spending: -3.97% – #4 largest year over year decrease
• Spending as a percent of GDP: 3.86%

1996: $ 287.96 billion

Source: Jeff J Mitchell / Getty Images

• Percent change in spending: -2.67% – #7 largest year over year decrease
• Spending as a percent of GDP: 3.55%

1997: $ 293.17 billion

Source: Doug Pensinger / Getty Images

• Percent change in spending: 1.81% – #35 largest year over year increase
• Spending as a percent of GDP: 3.41%

1998: $ 291.00 billion

Source: Space Frontiers / Getty Images

• Percent change in spending: -0.74% – #10 largest year over year decrease
• Spending as a percent of GDP: 3.20%

1999: $ 298.09 billion

Source: USAF / Getty Images

• Percent change in spending: 2.44% – #32 largest year over year increase
• Spending as a percent of GDP: 3.09%

2000: $ 320.09 billion

Source: NASA / Getty Images

• Percent change in spending: 7.38% – #20 largest year over year increase
• Spending as a percent of GDP: 3.11%

2001: $ 331.81 billion

Source: Public Domain / Wikimedia Commons

• Percent change in spending: 3.66% – #27 largest year over year increase
• Spending as a percent of GDP: 3.12%

2002: $ 378.46 billion

Source: Mark Wilson / Getty Images

• Percent change in spending: 14.06% – #4 largest year over year increase
• Spending as a percent of GDP: 3.45%

2003: $ 440.53 billion

Source: Scott Barbour / Getty Images

• Percent change in spending: 16.40% – #3 largest year over year increase
• Spending as a percent of GDP: 3.83%

2004: $ 493.00 billion

Source: Chris Jackson / Getty Images

• Percent change in spending: 11.91% – #6 largest year over year increase
• Spending as a percent of GDP: 4.02%

2005: $ 533.20 billion

Source: Public Domain / Wikimedia Commons

• Percent change in spending: 8.15% – #17 largest year over year increase
• Spending as a percent of GDP: 4.09%

2006: $ 558.34 billion

Source: Wathiq Khuzaie / Getty Images

• Percent change in spending: 4.71% – #24 largest year over year increase
• Spending as a percent of GDP: 4.04%

2007: $ 589.59 billion

Source: David Paul Morris / Getty Images

• Percent change in spending: 5.60% – #22 largest year over year increase
• Spending as a percent of GDP: 4.07%

2008: $ 656.76 billion

Source: Spencer Platt / Getty Images

• Percent change in spending: 11.39% – #8 largest year over year increase
• Spending as a percent of GDP: 4.45%

2009: $ 705.92 billion

Source: Alex Wong / Getty Images

• Percent change in spending: 7.49% – #19 largest year over year increase
• Spending as a percent of GDP: 4.88%

2010: $ 738.01 billion

Source: Chris Graythen / Getty Images

• Percent change in spending: 4.55% – #25 largest year over year increase
• Spending as a percent of GDP: 4.90%

2011: $ 752.29 billion

Source: Majid Saeedi / Getty Images

• Percent change in spending: 1.94% – #33 largest year over year increase
• Spending as a percent of GDP: 4.82%

2012: $ 725.21 billion

Source: Peter Macdiarmid / Getty Images

• Percent change in spending: -3.60% – #5 largest year over year decrease
• Spending as a percent of GDP: 4.46%

2013: $ 679.23 billion

Source: Michael Buckner / Getty Images

• Percent change in spending: -6.34% – #2 largest year over year decrease
• Spending as a percent of GDP: 4.03%

2014: $ 647.79 billion

Source: Sean Gallup / Getty Images

• Percent change in spending: -4.63% – #3 largest year over year decrease
• Spending as a percent of GDP: 3.69%

2015: $ 633.83 billion

Source: NASA / Getty Images

• Percent change in spending: -2.15% – #9 largest year over year decrease
• Spending as a percent of GDP: 3.48%

2016: $ 639.86 billion

Source: Scott Olson / Getty Images

• Percent change in spending: 0.95% – #38 largest year over year increase
• Spending as a percent of GDP: 3.42%

2017: $ 646.75 billion

Source: NASA / Getty Images

• Percent change in spending: 1.08% – #36 largest year over year increase
• Spending as a percent of GDP: 3.32%

2018: $ 682.49 billion

Source: Justin Sullivan / Getty Images

• Percent change in spending: 5.53% – #23 largest year over year increase
• Spending as a percent of GDP: 3.32%

2019: $ 734.34 billion

Source: Anthony Kwan / Getty Images

• Percent change in spending: 7.60% – #18 largest year over year increase
• Spending as a percent of GDP: 3.43%

2020: $ 778.40 billion

Source: flyparade / Getty Images

• Percent change in spending: 6.00% – #21 largest year over year increase
• Spending as a percent of GDP: 3.70%

2021: $ 806.23 billion

Source: Alex Wong / Getty Images

• Percent change in spending: 3.58% – #28 largest year over year increase
• Spending as a percent of GDP: 3.46%

2022: $ 876.94 billion

Source: U.S. Navy photo by Mass Communication Specialist 2nd Class Ridge Leoni, Public domain, via Wikimedia Commons

• Percent change in spending: 8.77% – #13 largest year over year increase
• Spending as a percent of GDP: 3.45%