Percent of GDP of Defense Spending…correction

lifted from comments from anne at Economistview:

Share of Gross Domestic Product of Federal Government, Defense and Nondefense Spending, 2000-2009 January 15, 2010

Percent of GDP of Defense Spending

2000 ( 3.7)
2001 ( 3.8) Bush
2002 ( 4.1)
2003 ( 4.5)
2004 ( 4.6)

2005 ( 4.7)
2006 ( 4.7)
2007 ( 4.7)
2008 ( 5.1)
2009 ( 5.5) Obama

[There are the proper shares of defense spending of GDP.]

(Rdan here update: The 2009 budget was the last of President Bush’s spending as a clarification, but the 2010 spending looks to be about the same)

Hence Paul Krugman’s post should say it this way (5.5% and not 4.2%):

August 14, 2010

A Tale Of Two Expenses
By Paul Krugman

Social Security outlays are projected to rise from 4.8 percent of GDP now to 6 percent of GDP in 2030. This is a huge crisis, requiring complete overhaul of the system.

Defense spending rose from 3.8 percent of GDP in 2001 to 5.5 percent last year; you should also add a couple of tenths of a percentage point for non-defense security spending. This was no big deal — certainly not a reason to reconsider the tax cuts sold back in 2001 as easily affordable given large projected budget surpluses.

Just saying.

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