U.S. A Leader -- In Spending On Its Military

Summary

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STOCKHOLM, Sweden -- World military spending surged during 2003, reaching $956 billion, nearly half of it by the United States as it paid for missions in Iraq, Afghanistan and the war on terror, a prominent European think tank said Wednesday.

The money has been effective in waging war, but threats of terror and weapons of mass destruction still exist, according to the Stockholm International Peace Research Institute.

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U.S. A Leader -- In Spending On Its Military

Military spending rose by 11 percent, which the group called a "remarkable increase." The amount was up 18 percent from 2001.

The $956 billion spent on defense costs worldwide corresponded to 2.7 percent of the...

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