From 1981 to 1985, the US federal government increased defense spending from $ 157.5 billion to $

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From 1981 to 1985, the US federal government increased defense spending from $ 157.5 billion to $ 252.7 billion per year, while over the same period Gross Domestic Product rose from $ 3.127 trillion to $ 4.218 trillion. From 2007 to 2011, the US federal government increased defense spending from $ 551.3 billion to $ 705.6 billion, while over the same period Gross Domestic Product rose from $ 14.029 trillion to $ 15.088 trillion. Which increase in defense spending was larger relative to Gross Domestic Product?
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Public Finance

ISBN: 978-0078021688

10th edition

Authors: Harvey Rosen, Ted Gayer

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