Trump Pushes $1.5 Trillion Budget Amid Record Global Spending

Donald Trump is pushing to increase the United States military budget to $1.5 trillion per year. However, a report from the Project on Government Oversight indicates that actual spending already ranges between $1.5 trillion and $1.7 trillion, and reaches $2.3 trillion when interest on military debt is included. Total annual spending could climb to $3 trillion when accounting for veterans' benefits and potential operations against Iran.

These figures contrast with data from the Stockholm International Peace Research Institute, which reported that global military expenditure rose 2.9% in 2025 to a record $2.887 trillion. According to that data, U.S. spending actually declined 7.5% to $954 billion in 2025, largely due to a lack of new financial assistance for Ukraine.

While the U.S. experienced a dip, other regions saw significant growth. European NATO members recorded their fastest spending growth since 1953, with Germany increasing expenditure by 24%. China increased its spending by 7.4% to $336 billion to continue its modernization drive, and Ukraine spent 40% of its GDP on defense, the highest military burden globally.