By Jomo Kwame Sundaram and Kuhaneetha Bai Kalaicelvan
KUALA LUMPUR, Malaysia, Feb 27 2026 (IPS) – As US President Donald Trump pushes the world to war, arms spending has been rising worldwide. Wars secure more budgetary allocations, mainly benefiting the US-dominated military-industrial complex.
US military spending increases
After bombing Venezuela, the Trump administration raised its war budget from $1.0 trillion, 47% of discretionary government spending in 2024, to $1.5 trillion!
In 2024, the US accounted for over 36% of the world’s military spending of $2.7 trillion! This exceeded the total expenditure of the next nine biggest spenders – China, Russia, Germany, India, UK, Saudi Arabia, Ukraine, France, and Japan!
China’s military budget for 2025 was $250-300 billion. Most others are US allies who have pledged to increase war spending from under 2% of GDP to 5%!
Continue reading “Massive US War Spending Hike Raises Debt, Taxes, Doubts”