The increase in U.S. defense spending follows declines in spending that accompanied the drawdown of wars in Iraq and Afghanistan. But even with those cuts, the U.S. spends more than the next eight biggest national defense budgets in the world — combined.
Military spending flattened and then declined around the world following the financial crisis a decade ago. U.S. spending picked up again in 2015, topping $600 billion, according to data collected by the Stockholm International Peace Research Institute (SIPRI).
Last year, China boosted its annual defense budget to $215 billion, making it the second largest in the world. Russia raised spending to $70 billion, making it the third largest.
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