Global spending on arms exceeds $1 trillion

If you thought you were safer with Bush in the White House, you might want to consider that global spending on arms has exceeded $1 trillion “for the first time since the height of the Cold War”:

Once again, America was by far the greatest spender on arms. In 2004, it spent $455bn, an increase from 2003 of 12 per cent, fuelled largely by the investment in President George Bush’s “war on terror”. America’s foreign aid spending is around 4.1 per cent of its arms bill. Britain, the second largest arms spender, spent $47bn – a tenth of the US total.

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