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In 2015, out of its budget of $3.97 trillion, the US spent $637 billion on the military. In 2016, the US spent 3.29% of its GDP on its military (considering only basic Department of Defense budget spending), more than France's 2.26% and less than Saudi Arabia 's 9.85%. [133]
The United States Military Academy ( USMA) ( West Point or Army) [8] is a United States service academy in West Point, New York. It was originally established as a fort during the American Revolutionary War, as it sits on strategic high ground overlooking the Hudson River 50 miles (80 km) north of New York City.
To reduce profiteering from such currency arbitrage, the U.S. military devised the MPC program. MPC were paper money initially denominated in amounts of 5¢, 10¢, 25¢, 50¢, $1, $5, and $10. A $20 note was added in 1968, during US involvement in the Vietnam War.
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Military expenditure of the world from 1950 to 2022 in constant 2021 US$ billions. Defense spending in the UK over time. The Saturday Review magazine in February 1898 outlined the levels of military expenditure as a percentage of tax revenue spent by the then great powers for the year 1897: [8] United States: 17%.