@ Hoestien
That's what I'm referring to. Americans love guns. Half of all Americans are pro-life. Sex before marriage, no one cares except for evangelicals (not that there's anything wrong with being opposed to it). And why do Europeans care about our policy about guns, abortion, and fornication?
@ ulytau
That's the thing. It's not just about money. It's about size and technology. Our military is smaller than China's in terms of personnel, and they spend a lot less than us. That's because they don't pay their troops very much, don't train them very much, and save money on research and development by stealing most of their technology from elsewhere. My point is that you cannot fairly compare military expenditure. You have to compare size and technology. Even if we do spend 43% of all world military expenditure, most of that is going directly back into our economy.
@ Gobbledydook
Nice to see you again. It's been a while.
"Do we need a military as large as it is now (capable of fighting 2 simultaneous land wars overseas) just to protect peace and stability within our borders?"
The short answer is yes. We have to defend our country from outside threats. Believe it or not, there are people out there that do want to disrupt that peace and stability. We have to engage and destroy these people. I would rather fight them somewhere else (i.e. Afghanistan) than risk having them infiltrate America.
"And exactly how large is the purported economic benefit and does it cover the cost of increased military expenditure?"
Um, large? We spend 26% of our budget on the military. That's a big number, and all of it goes to individual servicemen or employees of defense contractors, and they put that money back into the economy. You can look up the exact numbers for yourself.
"Canada, your next door neighbour, has a very small military and I don't see them being attacked any time soon."
So? I see America being attacked or threatened some time soon.
"The money could be spent on something like education or health, which would benefit health workers/teachers and so expand consumption in the same way as putting the money in the military would, while also providing a tangible benefit to society."
My problem with education is this:
http://nces.ed.gov/fastfacts/display.asp?id=66
http://www.bloomberg.com/news/2010-12-07/teens-in-u-s-rank-25th-on-math-test-trail-in-science-reading.html
We keep dumping more and more money into education, but test scores stay the same or drop. Clearly, the education system is broken. The healthcare system isn't much better. The point is that the government is bad at education and healthcare. Actually, if you think about it, national defense is the only thing that the government has always done well.
Besides, military spending does provide a tangible benefit to society.
"Or you could just lower the tax, and when everyone has more money in their pockets they can spend more."
Excellent point. Why don't we cut healthcare and education spending and then cut taxes?
"I am not sure whether Military Keynesian economics are even valid. Keynes proposed that government spending should be used on "peace and prosperity" not war."
While Keynes used the phrase to characterize the relationship between the government and the military-industrial complex (which he perceived to be a negative thing), the phrase is now used to characterize the economic theory of using massive military spending to stimulate the economy as a whole. This theory is obviously controversial, but it is a valid economic theory.
D) "Who is going to attack the US in the first place?"
That's kind of a dumb question. Any number of people, mostly terrorist organizations.
"No-one is going to fight a conventional shooting war with the US, because they'd run the risk of getting nuked."
I really don't think that nuclear weapons are that much of a deterrent. The winning side (which would probably be the US) would never use nuclear weapons because (if they are assumed to be near or in the enemy country's capital) they risk hurting their own troops. Realistically, countries would only resort to nukes as a last-ditch effort if they were on the verge of total defeat. I think that a conventional shooting war between America and a non-nuclear but still powerful nation is not impossible, and would be decided and ended by conventional weapons.