Saturday, February 9, 2013

"VIDEO" U.S. Adversaries Ramping Up Defense Spending As Pentagon Does Opposite

As the United States and many of its allies decrease defense spending, America's adversaries are doing the opposite.
It's still unclear whether Washington will miss a March 1 deadline for avoiding sweeping automatic military cuts. But regardless, Russia is set to surpass U.S. defense spending -- when looked at as a percentage of GDP -- in just two years. By the same measure, China is slated to surpass the U.S. in 2035.
Even so, the United States still towers over other countries in GDP. The U.S. GDP was $15 quadrillion in 2011, according to the World Bank, compared to Russia's $1.9 quadrillion and China's $7.3 quadrillion.
"You've seen double-digit increases in Chinese defense spending for more than 15 years now," said Jim Thomas, with the Center for Strategic and Budgetary Assessments. "And that really should not only give pause to the United States, but it really should be a source of concern for the countries in the region as well."